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March 11, 2015

Malaysia’s Nam Cheong to build vessels for Marco Polo and Topaz Energy

Malaysia-based offshore support vessel builder Nam Cheong has secured orders worth around $58m for the delivery of two vessels.

By Samseer M

Malaysia-based offshore support vessel builder Nam Cheong has secured orders worth around $58m for the delivery of two vessels.

The contracts include a 200-person accommodation work vessel (AWV) for Marco Polo Marine and a 12,000bhp anchor-handling towing supply (AHTS) vessel for Dubai’s Topaz Energy and Marine.

Nam Cheong CEO Leong Seng Keat said: "With these contracts, it brings our cumulative order book to a robust $458m (MYR1.7bn), pointing to the credibility and soundness of our reputation as a shipbuilder amidst an outlook of uncertainties in the macro environment.

"Our proposition of being a partner to our customers by providing them with quality vessels driven by cost and fuel efficiencies is more important than ever."

"In particular, we are heartened to have attained the vote of confidence from our repeat customers for the continued demand for our vessels."

These new vessels are of American Bureau of Shipping (ABS) class and will be constructed in the Nam Cheong’s subcontracted yards in China as part of Group’s built-to-stock series.

The vessels are expected to be delivered this year and next.

"With a continued glut in oil supply, we believe our proposition of being a partner to our customers by providing them with quality vessels driven by cost and fuel efficiencies is more important than ever," Leong Seng Keat added.

In August 2014, Nam Cheong received an order for a 200-person AWV, which has been equipped with a DP2 System, from a joint venture company between Nam Cheong Group and Marco Polo Marine.

The shipbuilder also delivered three platform supply vessels (PSVs) to Topaz in July 2014.

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