Nam Cheong Sells Four PSVs to Company Based in Latin America

Nam Cheong Limited, Malaysia’s largest Offshore Support Vessel (OSV) builder, today announced that it has sold four Platform Supply Vessels (PSVs) worth a total of approximately $120 million. The customer is new to Nam Cheong and is an emerging offshore marine services company based in Latin America.

Mr. Leong Seng Keat, Nam Cheong’s Chief Executive Officer said, “We are delighted to have secured one of our largest contracts for the year to bring our cumulative order book to RM1. 7 billion (approximately S$ 669 million). These four vessels bring our total sales for the year to 20, which is close to surpassing our record of 21 vessels sold last year.”

“The global oil and gas industry remains robust amid growing demand for energy. With global exploration and production spending expected to reach a record US$678 billion by 2013 , we expect OSV demand to continue growing. This brings us on track to overtaking last year’s sales record.”

The four vessels are being constructed as part of the Group’s build – to – stock series in its subcontracted yard in China. They are scheduled for delivery in 2014 and are expected to contribute positively to the Group’s earnings for the financial years ending 31 December 2013 and 31 December 2014.

Nam Cheong, September 30, 2013

Share this article

Follow World Maritime News

In Depth>


<< Jan 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >