Otto sells AHTS for $100M

Singapore’s Otto Marine Limited has sold an Anchor Handling Tug Supply Vessel for a $100 million.

The vessel is currently under construction at Otto’s shipyard in Batam, Indonesia and will be handed over to the undisclosed buyer following the completion of legal documentation and a final inspection.

DNV classed and Norwegian-designed, the VS491 21,000bhp AHTS is a hybrid propulsion diesel electric driven vessel with dynamic positioning 2 (DP2) technology. It measures 91.5m in length and 22.5m wide and has a bollard pull of 240 to 260 tonnes. The Vessel can also operate and handle large rigs in the ultra-deepwater region including the harshest environments of the North Sea region.

This AHTS is the 4th and final of the VS491 series the Group has built in this batch. The AHTS is expected to be completed in 2Q2015.

Upon the completion of the vessel, the vessel will be chartered by Otto’s subsidiary, GO Offshore (L) Private Limited, for a period of 8 years.