Nam Cheong secures charter contracts for six OSVs

Malaysian offshore vessel shipbuilder and operator Nam Cheong has clinched chartering contracts for six OSVs worth MYR116.4m ($27.6m) including options.

The six vessels are made up of two accommodation work barges, three AHTS vessels and one PSV. The vessels will be mainly operated in East Malaysian waters to support the drilling activities of foreign oil majors.

The new contracts have grown Nam Cheong’s total order book to MYR318.2m ($75.6m).

“The sizable new order wins are a good start for the year, adding more stability and visibility to our revenue and order book going forward. While we remain vigilant on the market outlook,we will continue to capitalize on our capabilities and reputation in vessel chartering business and diversify into engineering, procurement, construction, installation and commissioning projects to capture more opportunities during the industry upturn,” said Leong Seng Keat, CEO of Nam Cheong.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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