Malaysia’s Nam Cheong Limited has sold two vessels worth approximately $45 million.
An Anchor Handling Towing Supply Vessel (“AHTS”) was sold to a Netherlands-based repeat customer, Vroon B.V., an international shipping company.
Nam Cheong also sold a Platform Supply Vessel (“PSV”) to a repeat customer, E.A. Temile Development Company of Nigeria Limited (“Temile”) based in West Africa, an established engineering and construction company.
Leong Seng Keat , Nam Cheong’s Chief Executive Officer said: “Despite the recent volatility in global oil prices which has affected investor sentiments across the industry, the securing of these orders from our repeat customers evidently reveals the continued interest in oil and gas activities, our strong reputation in the market for quality and reliable vessels as well as our customers’ confidence in Nam Cheong’s capabilities.”
The two vessels are both of American Bureau of Shipping (ABS) class and are being constructed as part of Nam Cheong’s built-to-stock series in the Group’s subcontracted yards in China. These vessels are scheduled for delivery in 2015 and are expected to contribute positively to the Group’s earnings for the financial year ending December 31, 2014 and December 31, 2015.