Nam Cheong sells $120m PSV quartet


Kuala Lumpur: Malaysia offshore builder Nam Cheong has announced the sale of four platform supply vessels sold at a value of close to $120m.
The vessels were snapped up by an offshore marine services company based in Latin America, who Nam Cheong states is a first time customer, with the vessels to be built at a subcontracted yard in China for delivery in 2014.
Leong Seng Keat, Nam Cheong’s ceo said, “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, we expect OSV demand to continue growing.” 
Nam Cheong says its cumulative order book has now hit RM1.7 billion (approximately $535m). [30/09/13]

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