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Nam Cheong Sells Three Offshore Vessels (Malaysia)
News Source: OFFSHOREENERGYTODAY.COM Writer:  Published:2013-7-26

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 three vessels worth a total of US$70.5 million.

One of the two Platform Supply Vessels was sold to an existing customer, a leading oilfield services company based in Asia. In mid-May this year, this same customer bought four PSVs from Nam Cheong. The second PSV was sold to a subsidiary of a new customer in Cyprus, EDT Offshore, a well-established offshore marine services company which owns and operates a diverse range of high specification OSVs.

The Accommodation Work Barge was sold to a subsidiary of Perdana Petroleum Berhad (“Perdana”), an established, major offshore marine services provider for the oil and gas industry in Malaysia and the Southeast Asian region. Earlier in April this year, two AWBs with similar specifications were sold to the same subsidiary of Perdana.