Offshore shipping and shipbuilding group Otto Marine has boosted its finances with the sale of an anchor handler newbuilding contract.

Otto Marine chief executive, Lee Kok Wah.
Singapore based Otto is selling a 7,200-bhp AHTS due to be delivered by China’s Zhongshan Jinhui shipyard in March for $19m.

The buyer is Aries AP, a Norwegian special purpose company set up to own anchor handlers that has been involved in previous vessel transactions with Otto and Oslo listed offshore operator, GC Rieber Shipping.

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