Singapore: Sale of ‘Otto Explorer 3’ Completed

Sale of 'Otto Explorer 3' Completed2

The Board of Directors of Otto Marine Limited announced that, further to the announcement dated 2 April 2013, the sale of the Multi-purpose Field Support and ROV Support Vessel, “Otto Explorer 3” is completed.

The vessel is sold to RY Offshore Limited by the Company’s shipyard, through one of  wholly-owned subsidiaries, for an aggregate consideration of approximately US$50 million.

The above 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, May 27, 2013

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2016 >>
MTWTFSS
28 29 30 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

10th annual Border Security Conference

The 2017 conference will possibly be the most relevant and topical event to date as we enter our 10th successive year. With the rise of cross…

read more >

Salvage & Wreck Awards 2016

Highlights Include:
3 new streams on law and insurance, tugs and towage, chemical and oil spill response
Exclusive VIP Networking Lunch on day one…

read more >

Maritime Reconnaissance and Surveillance Technology 2017

After last year’s huge success the SMi Group is proud to announce the 2nd Maritime Reconnaissance and Surveillance Technology. The event…

read more >

Euromaritime 2017

The Euromaritime event will take place in Europe for three days. This is one of the major and influential trade events dealing with marine…

read more >