Otto Marine sells two vessels for US$30m

OTTO Marine has sold two vessels to its associate for a total sum of US$30 million, the offshore marine company said.

Go Marine Services, formerly known as Expro Synergy, 49 per cent owned by Otto Marine, has completed the execution of its purchase obligation for the two 61m work-maintenance vessels, Otto Marine said in a regulatory filing.

The associate had entered into a charter agreement last September with Otto Marine for the two vessels, with a purchase obligation at the end of the six-month charter.