Otto Sells ‘Deep Sea 1’ AHTS

Otto Marine Limited has entered into a Memorandum of Agreement (“ MOA ”) to sell an AHTS vessel “DEEP SEA 1” to PT GO Marine International.

PT GO Marine International is a company incorporated in Indonesia in which Otto owns 49% share.

The vessel, sold for $95 million, is built in Otto’s shipyard in Batam.

“The sale of the vessel will reduce its inventory on hand and is part of the ordinary course of business of the shipyard business,” said Otto in a statement.

[mappress]
November 01, 2013