Leong Seng Keat News

Nam Cheong Limited a leading global offshore marine player listed on the Main Board of the Singapore Exchange Securities Trading Limited and Malaysia’s largest Offshore Support Vessel builder, today announced that it has sold two Accommodation Work Barges (“AWB”) worth approximately US$84 million (approximately S$105 million)  with the option to purchase another two vessels, to a repeat customer, Bursa-listed Perdana Petroleum Berhad (“Perdana”). In July last year, Nam Cheong sold one AWB of a smaller size, to Perdana, an established, major offshore marine services provider for the oil and gas industry in Malaysia and the Southeast Asian region.

Nam Cheong, Malaysia's largest OSV builder, secures sales contracts worth US$2.1-million with West African buyers. 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 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. The vessels are scheduled for delivery in first quarter of 2013. Mr Leong Seng Keat, Nam Cheong’s Executive Director, said: “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.

Shipbuilder Nam Cheong Group wins order from Perdana Petroleum Berhad to build two Accommodation Work Barges (AWB). The contracts are worth worth a total of US$59- million and came from  Perdana Petroleum Berhad (“Perdana”), an established, major offshore marine services provider for the oil and gas industry in Malaysia and the Southeast Asian region. The AWBs, scheduled for delivery in the second quarter of 2013, are being built as part of the Group’s built-to-stock series in one of Nam Cheong’s subcontracted yards in China. The 100 metre-long vessels will have the capacity to accommodate 300 men and will be equipped with an 8-point mooring system and a 300-tonne crane. They are both ABS Class vessels.

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.