Asia

Latest deals take Nam Cheong’s 2013 sales past $400m

 

Kuala Lumpur: Even by normally busy Nam Cheong’s standards, today has been especially active for the Malaysian offshore player with a rash of new deals announced.
 
The Singapore-listed group has sold six vessels to two existing clients for US$72.1m.
 
Leong Seng Keat, Nam Cheong’s Executive Director said: “In just the first three months of this year, we have seen robust sales indicative of strong industry momentum in the region and globally. With the contract win, Nam Cheong’s order book to date stands at RM1.3bn.”
 
The vessels sold are two 5,150 brake horsepower anchor handling towing supply (AHTSs) vessels and four emergency response and rescue vessels (ERRVs).
 
The two AHTS vessels were sold to subsidiaries of Icon Offshore, one of Malaysia’s largest OSV groups with a portfolio of 32 vessels. These vessels will be deployed in Malaysian waters. The AHTS vessels are being constructed as part of the group’s build-to-stock series.
 
Leong said: “This win is indicative of the strong momentum in Malaysia’s offshore marine sector. The market for small size AHTS vessels remains buoyant, especially within the Malay basin being in the shallow water region, where we are seeing demand for new businesses relating to top side maintenance, hook up and commissioning, and the exploitation of reserve, as well as the need for older vessels to be replaced with new and higher specification ones.”
 
The four ERRVs will be sold to a Singapore-based company that provides ship management and chartering services. The ERRVs will be deployed in the North Sea, and constructed under Nam Cheong’s build-to-order model.  [27/03/13]

Splash

Splash is Asia Shipping Media’s flagship title offering timely, informed and global news from the maritime industry 24/7.
Back to top button