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

 

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Marine Maintenance World Expo 29 September – 1 October

The international exhibition of maintenance and repair technologies, tools, spare parts, services and systems for vessels of all sizes, from yachts, commercial fishing vessels, work boats, passenger and vehicle ferries, to cargo ships, cruise ships, naval defence fleets, oil tankers, offshore support vessels and offshore-energy platforms.

Expect to see technologies and services including:

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• Marine monitoring and control platform
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Read more about the event here.

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