Singapore: Otto Marine to Sell AHTS to Aries AP Limited

The Board of Directors of Otto Marine Limited announced that the Company or its nominee has entered into a Memorandum of Agreement with Aries AP Limited or its nominee, in respect of the sale of a AHTS vessel, Hull  7061 (the “Vessel”) for consideration of US$19 million.

The Company expects the Vessel to be completed in March 2012.

The contract is expected to have a positive effect on the net earnings per share or net tangible assets per share of the Company for the financial year ending 31 December 2011.

[mappress]
Source: Otto Marine , November 4, 2011