Otto Marine nips charter contract for USD21.5mln

The offshore marine group also inks an MOA to sell the vessel in 31 January 2011.

Otto Marine Limited on Friday said its wholly-owned subsidiary, Koi Marine Limited, has entered into a Bareboat Charter Agreement to charter a vessel on or about 17 August 2010 for approximately 6 months, an Otto Marine release said.

The company also confirms that it has entered into a Memorandum of Agreement (MOA) to sell the vessel to the customer on 31 January 2011 for a consideration of USD21.5 million.

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