Singapore: Nam Cheong Ltd has won two platform supply vessel (PSV) contracts worth US$52.1m from two new customers in West Africa. The ships, under construction in China, will be delivered in Q1 next year.
Nam Cheong executive director Leong Seng Keat said: "We expect the search for more energy resources in deeper water to become increasingly prevalent due to the persistent global demand for oil and gas. This is likely to result in a corresponding increase in the demand for PSVs, which are designed to suit the needs of such activities.
"Anticipating this trend, Nam Cheong has realigned our strategy to build more PSVs in our shipbuilding programme. We believe that our ability to ascertain demand ahead of time and build vessels of the right specifications has grounded us in good stead, positioning us for growth beyond Malaysia and the Southeast Asian region." [11/10/12]