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HomeMaritime NewsRegionsAsiaOtto Marine inks $100m sale and leaseback of AHTS vessel

Otto Marine inks $100m sale and leaseback of AHTS vessel

Otto Marine inks $100m sale and leaseback of AHTS vessel
Singapore's Otto Marine has sold one AHTS vessel for $100m and will charter back the vessel for eight years via its subsidiary GO Offshore.

The new 21,000 bhp diesel-electric, DP2-capable AHTS vessel, currently under construction at Otto Marine's shipyard in Batam, Indonesia, is expected to be completed in the second quarter of 2015.
 
Singapore-listed Otto Marine said the latest sale and leaseback deal of the AHTS vessel is expected to strengthen its balance sheet.
 
“While the OSV market turned increasingly competitive given the recent regional development and the instability of oil prices, the sale of the AHTS vessel and recent delivery of a subsea IMR vessel, once again, demonstrated our shipyard capability in shipbuilding and conversion of larger and complex OSVs,” said Michael See, group executive director of Otto Marine.
 
Otto Marine's orderbook stood at approximately $500m as at 30 September 2014.

TAGS: Offshore Shipyards
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