May 27, 2013

Otto Marine Sell ROV Support Ship

ROV Support v/l Otto Marine 3: Photo courtesy of Otto Marnie

ROV Support v/l Otto Marine 3: Photo courtesy of Otto Marnie

The company's subsidiary Otto Shipyard has sold  ROV  Support Vessel 'Otto Explorer 3' for US$50-million.

The Board of Directors of Otto Marine Limited announce that the earlier proposed sale of the Multi-purpose Field Support and ROV Support Vessel, “Otto Explorer 3”, to RY Offshore Limited by the Company’s shipyard, through one of the Company’s wholly-owned subsidiaries has been comleted.

Otto Marine state that the transaction  is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the Company for the financial year ending 31 December 2013.
 

Otto Marine LimitedOtto ShipyardOtto Marine Sell