Nam Cheong Shipyard Contracted for Five Offshore Vessels

Nam Cheong International secured sale contracts for an Anchor Handling Towing Supply (AHTS) and four Platform Supply Vessels ( PSV's).

The total value of the contracts is $110 million.

The 12,000 brake horsepower (bhp) AHTS vessel was sold to a new customer in Indonesia, and the four PSVs were sold to an existing customer, a leading oilfield services company based in Asia. These five vessels are all of American Bureau of Shipping (ABS) class and are being constructed as part of the Group’s build-to-stock series in two of its subcontracted yards in China. They are scheduled for delivery between the second quarter of 2013 and the first quarter of 2014.

Nam Cheong says that with these contracts its order book stand at about RM1.7-billion to date.