The US Bankruptcy Court gave an order approving the sale of certain assets of Hermitage Offshore Services Ltd. on October 15, 2020. The debtor has been authorized to sell its certain assets to VTG Ships Limited for a purchase price of $5.3 million in cash pursuant to the asset purchase agreement dated October 8, 2020. 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.