Hermitage Offshore Services Ltd. filed a notice for the selection of Successful Bidder in the US Bankruptcy Court for the sale of its certain assets on October 9, 2020. As a result of the auction conducted on October 7, 2020, VTG Ships Limited has been selected as the winning bidder for the sale of debtor’s certain assets for a purchase price of $5.3 million. Petro Craft 1605-3 Shipping Company Limited is selected as backup bidder. The debtor’s assets include the vessel, the assumed contracts, the spares, bunkers and other items. Under the terms of the asset purchase agreement, the buyer has made an earnest money deposit of $0.39 million upon the execution of the agreement. The buyer is represented by Stewart F. Peck of Lugenbuhl, Wheaton, Peck, Rankin & Hubbard LC as its legal advisor.