Otto Marine sells offshore barge for $28.4m

Singapore-based Otto Marine sold an accommodation and work barge on Monday to an unnamed buyer for approximately $28.4m, Seatrade Asia online reports. The offshore services provider said 95% of the purchase consideration has been paid by the buyer with the remaining 5% to be paid upon physical delivery of the vessel by mid-February 2012.
“The sale of the vessel is expected to have a positive impact on the consolidated net tangible assets per share or earnings per share of the company for the financial year ending 31 December 2012,” Otto Marine said in a statement to the Singapore Exchange.