Nam Cheong Sells Two PSVs to West Africa

Malaysia’s shipbuilder Nam Cheong Limited has secured contracts for the sale of two Platform Supply Vessels to new clients in West Africa.

The vessels will be sold for a total sum of USD 52.1 million to the West Africa-based costumers engaged in offshore marine, engineering and construction services.

The two PSVs are being built as part of the Group’s built-to-stock series in two of Nam Cheong’s subcontracted yards in China. One of the vessels is a 3,000 dead weight tonne (“dwt”) PSV that is 75 metres long and the other is a 5,000 dwt PSV that is 87 metres long. Both are ABS Class vessels and equipped with Dynamic Positioning 2 system.

 Leong Seng Keat, Nam Cheong’s Executive Director, commented: “With this collective win, we continue our winning streak this second half of the year. Sales of the two PSVs to our new customers in West Africa have effectively expanded Nam Cheong’s footprint in the region. We are excited about opportunities in West Africa, where offshore marine activities have taken off in the last decade, propelled particularly by advances in offshore technology. We have seen increased exploration and production activities in this oil-rich region, where oil majors have been intensifying operations2 The boom bodes well for Nam Cheong’s strategy to extend our geographical reach, as evident by these two sales, which followed a sale we secured with another West African customer in late August.”

Both the vessels are scheduled for delivery in first quarter of 2013.

Nam Cheong is the largest shipbuilder of Offshore Support Vessels in Malaysia.

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Offshore Energy Today Staff, October 10, 2012