Otto Marine sells AHTS for US$100mln
Otto Marine Limited, a leading offshore chartering group, which owns and operates more than 60 offshore support vessels globally , and also engaged in specialized shipbuilding, repair and conversion of offshore support vessels , announced today that its shipyard division has sold an Anchor Handling Tug Supply Vessel to a renowned unrelated third party for US$100 million. DNV classed and Norwegian - designed, the VS491 21,000bhp AHTS is a hybrid propulsio n diesel electric driven vessel with dynamic positioning 2 (DP2) technology. It measure s 91.5 m in length and 22.5 m wide and has a bollard pull of 240 to 260 tonnes, the company said in its press release.
The Vessel can also operate and handle large rigs in the ultra - deepwater region including the harshest environments of the North Sea region. This AHTS is the 4 th and final of the VS491 series the Group has built in this batch. It is currently und er construction at Otto Marine’ s shipyard in Batam, Indonesia, and is expected to be completed in 2Q 2015. GO Offshore (L) Private Limited, a subsidiary of the Group, will charter the vessel for 8 years upon the completion of the vessel. The US$100 million transaction is expected to have a positive contribution to the consolidated net tangible assets per share and earnings per share of the Group for the OTTO MARINE LIMITED (Company Registration Number 197902647M) (Incorporated with limited liability in the Republic of Singapore on 5 September 1979) financial year ending 31 December 2014.
In addition to the sale and leaseback of the AHTS and the recently delivered Subsea and IMR (Inspection, Maintenance and Repair) vessel currently deployed in Australia , the Group will be delivering four AHTS vessels to a renowned unrelated third party Indonesia customer in the next two months. The Group’s net order book stood at approximately USD500 million as at 30 September 2014 .
