Otto Marine's shipyard has sold the multi-purpose offshore support vessel 'Otto Explorer 3' to RY Offshore Ltd. for about US$ 50-million.
Upon completion of the sale, the buyer will charter the vessel to the Ottto Marine Group subsidiary, Go Marine Group Pty Ltd. The company has received a deposit of US$1 million from the buyer for the transaction with the balance to be paid upon delivery of the vessel, which is being built at the Otto Marine shipyard in Batam, Indonesia.
Otto Marine Limited is an offshore marine group, headquartered in Singapore, specialising in the subsea and deep sea segment. The Group has three distinct business divisions, shipbuilding of specialised offshore support vessels (OSV), ship chartering and specialised offshore services operation.