CH Offshore

CH Offshore: to sell a 2008-built 12,240 brake horsepower anchor-handling tug supply vessel (AHTS) to 49/51 JV with PT Bahtera Niaga for US$30m. Vessel was recently valued by RS Platou at US$32-33m. Group will recognize a US$3.2m gain from this deal. NTA/sh, EPS will rise marginally to US31.2cts, US5.32cts respectively. Proceeds to be used for capex and working capital purposes. DnBNOR has a Buy rating with $0.70 target, but stock appears to lack catalysts for now.