Nam Cheong clinches four orders and sets new high

Kuala Lumpur: Malaysian offshore shipbuilder Nam Cheong has sold four new vessels at a total of $66m to help set a new annual sales record for the firm, clinching 24 new orders for the year.
The four vessels consist of three AHTS vessels to jointly controlled company PT Bahtera Niaga Indonesia and a maintenance vessel to Icon Offshore. All four vessels will be built in subcontracted yards in China, and will be classed by ABS.
Leong Seng Keat, Nam Cheong ceo, commented: "With global E&P spending expected to see another record-setting year in 2014, rising about 6% to hit US$723 billion, led by robust activities in the Middle East, Latin America and Russia, we are optimistic of an exciting 2014 ahead.”
Nam Cheong currently has an order book of over $450m. [31/12/13]

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