Nam Cheong sells six offshore supply vessels

27 March 2013 (Last Updated March 27th, 2013 18:30)

Malaysia-based shipbuilder Nam Cheong has received orders for six vessels worth a total of $72.1m from two of its existing customers in Malaysia and Singapore.

Malaysia-based shipbuilder Nam Cheong has received orders for six vessels worth a total of $72.1m from two of its existing customers in Malaysia and Singapore.

Out of the six vessels, two are 5,150bhp build-to-stock anchor handling towing supply (AHTS) vessels and four are build-to-order emergency response and rescue vessels (ERRVs).

All the vessels will be built to American Bureau of Shipping (ABS) class at one of Nam Cheong’s subcontracted yards in China and are scheduled to be delivered between the second quarter of 2013 and the fourth quarter of 2014.

Following delivery, Malaysia-based offshore services provider Icon Offshore will deploy the AHTS vessels in Malaysian waters.

Icon Offshore has so far purchased five AHTS vessels from Nam Cheong and it has a fleet of 32 vessels engaged in various logistic and oil and gas services in Southeast Asia and the Middle East.

Each AHTS vessel will have a length of 59m, bollard pull of 62t and will be equipped with the dynamic positioning 2 (DP2) system.

Each of the four ERRVs, to be sold to a Singapore-based ship management company, will be equipped with the DP2 system and will be deployed in the North Sea.

Nam Cheong executive director Leong Seng Keat said: "The market for small size AHTS vessels remains buoyant, especially within the Malay basin being in the shallow water region, where we are seeing demand for new businesses relating to top side maintenance, hook up and commissioning, and the exploitation of reserve, as well as the need for older vessels to be replaced with new and higher specification ones.