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Otto Marine sells ship for $38m

Singapore-listed Otto Marine has signed a memorandum of agreement to sell a work maintenance vessel called SOC ENDEAVOUR for $38m to an unspecified party.

Otto Marine said the sale would have a positive impact on the consolidated net tangible assets per share or earnings per share of the company for this financial year.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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