Otto Marine Limited informed that its subsidiaries, Dolphin 2 Pte. Ltd., Dolphin 3 Pte. Ltd., and Dolphin 4 Pte. Ltd., have signed a Memorandum of Agreement to dispose of three of their vessels.
The 6,000 bhp Anchor Handling Tug SupplyVessels (AHTS) GO Avior, GO Hawk and GO Harrier have been sold to Go Marine Services (M) Sdn. Bhd., a company incorporated in Malaysia, for a sum of $37.5m.
The Otto Marine’s board believes that this transaction is in the best interests of the company and its shareholders, seeing that the purchase price took into account the proper market value of the vessels, and the gain from the transaction would improve the liquidity of the company and its subsidiaries.