Nam Cheong set for record sales after $70m contracts

In the space of two months, Nam Cheong has secured contracts for three offshore vessels worth $70m, and is set to surpass 2012 sales records.
The orders include two Platform Supply Vessels and an Accomodation Work Barge. The first PSV contract, with an undisclosed oilfield services company based in Asia, represents repeat business, the same firm having made four previous PSV purchases made earlier this year, in May. The second, another PSV contract represents new business with a new customer in Cyprus, EDT Offshore.
The sales also included a third vessel, an Accomodation Work Barge, sold to Perdana Petroleum Berhad (“Perdana”), an offshore marine services provider for the oil and gas industry in Malaysia and the Southeast Asian region. Two AWBs with similar specifications were previously sold to the same subsidiary of Perdana in April.
The new contracts bring the company’s orderbook to a total of $472m.
Source: Seatrade Global