Malaysian Shipbuilder Wins Contracts for Offshore Vessels

Press Release
Friday, August 24, 2012

Malaysia's Nam Cheong wins contracts for a Platform Support Vessel (PSV) & two Anchor Handling Towing Supply (AHTS) vessels.

The total value of the contracts is worth US$43.81-million, and the vessels are scheduled for delivery between fourth quarter of 2012 and first quarter of 2013.

The 3,000 dead weight tonne (“dwt”) PSV represents penetration of a new market for Nam Cheong, as the vessel was sold to a new customer – an emerging offshore marine services and construction company based in West Africa. The ABS Classed PSV is 75 metres long and equipped with a Dynamic Positioning 2 system.

One 5,150 brake horsepower (“bhp”) AHTS vessels is for  a Norwegian-based customer that will own, operate and manage the vessels under a long-term charter contract with Petrobras. It is 59 metres long and has a bollard pull of 62 tonnes. Both vessels are scheduled for delivery between the fourth quarter of 2012 and first quarter of 2013.

The other AHTS vessel also of 5,150 bhp is for an established customer based in the Middle East, a marine operator with an expanding fleet of OSVs.

The PSV will be deployed in West Africa, and the AHTS vessels to South America and the Middle East. These latest contract wins bring Nam Cheong’s order book to RM912 million3 in total contract value.

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