Otto Marine wins $43.4m sales order for two AHTS

Offshore services firm Otto Marine has through its subsidiary agreed to sell two anchor handling tug supply (AHTS) vessels to an unnamed third party at a price of $43.4m, Seatrade-asia reports. Otto Offshore currently has the two vessels of 8,000 bhp each under construction and they are expected to be completed by this year. Subsequent to the delivery of these vessels, a unit of Otto Marine, Redfish 3, will charter and deploy the vessels for seven years. “Optimism in the offshore marine and oil and gas industry appears to be building up as a series of new rig orders were placed with major players recently,” said Lee Kok Wah, president and ceo of Otto Marine. “This could lead to an increase in the demand for support vessels. We have also witnessed recently a healthy increase in enquiries for new vessels. We are cautiously optimistic that this momentum will continue,” Lee added. Otto Marine said the transaction will contribute “positively” to the profits of the group for this year.