Otto Marine sells ATHS vessel for $100 million

Otto Marine sells ATHS vessel for $100 million

SINGAPORE -- Otto Marine's shipyard division has sold an Anchor Handling Tug Supply vessel (AHTS) to a renowned unrelated third party for $100 million.

DNV classed and Norwegian-designed, the VS491 21,000 bhp AHTS is a hybrid propulsion diesel electric driven vessel with dynamic positioning 2 (DP2) technology. It measures 91.5 m in length and 22.5 m wide and has a bollard pull of 240 to 260 tonnes. 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 4th and final of the VS491 series the group has built in this batch. It is currently under construction at Otto Marine’s shipyard in Batam, Indonesia, and is expected to be completed in second-quarter of 2015.

GO Offshore, a subsidiary of GO Marine Group, will charter the vessel for 8 years upon the completion of the vessel.

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.