Otto Marine has inked an agreement to sell a 8,000 bhp AHTS vessel to Australia's Go Marine.
Singapore-listed Otto will bag $24m for the sale of GO Rigel, which will be delivered in September 2011.
“The contract is expected to have a positive effect on the net earnings per share or net tangible assets per share of the company for the financial year ending 31 December 2011,” Otto said in a statement.