Nam Cheong secures orders worth $186m for 12 AHTS

19 October 2014 (Last Updated October 19th, 2014 18:30)

Malaysia-based Nam Cheong has received $186m worth of letters of intent (LoI) from five customers for its new 64.8m-long, diesel electric-powered, anchor-handling tug supply vessels (AHTS), both for sale and charter.

NCA80E

Malaysia-based Nam Cheong has received $186m worth of letters of intent (LoI) from five customers for its new 64.8m-long, diesel electric-powered, anchor-handling tug supply vessels (AHTS), both for sale and charter.

The company has also secured options for the sale of eight NCA80E vessels.

The customers are Bumi Armada Berhad, Singapore-based Geooffshore, Opstad Group, Malaysia’s Sofield Marine & Offshore and Norwegian firm Vega Offshore Group.

Bumi Armada and Geooffshore plan to order four vessels with the option for four additional vessels, while Vega will order two vessels.

"Nam Cheong’s engineers have integrated specifications and features…that suits their requirements of a high-performance vessel that is also cost-efficient." 

Sofield and Opstad will place orders for one vessel each.

The potential sale of the 20 vessels through the LoIs, including options, represents a 100% take-up rate of the 20 vessels planned for delivery, company said.

The 80t bollard pull NCA80E vessels are of American Bureau of Shipping (ABS)-class and will be constructed at the Miri shipyard in Sarawak, East Malaysia, as well as other subcontracted yards in China.

Nam Cheong CEO Leong Seng Keat said: "In developing the design of the NCA80E vessel, Nam Cheong’s engineers have integrated specifications and features highly demanded by customers to arrive at an elegant vessel design that suits their requirements of a high-performance vessel that is also cost-efficient."

In another development, Nam Cheong has launched a new 64.8m-long, 80t bollard pull, diesel electric powered AHTS vessel, the NCA80E.


Image: Nam Cheong’s new anchor-handling tug supply (AHTS) vessel, NCA80E. Photo: courtesy of Nam Cheong Limited.