Nam Cheong to deliver three offshore supply vessels

24 July 2013 (Last Updated July 24th, 2013 18:30)

Malaysia-based shipbuilder Nam Cheong has received contracts worth $70.5m for two platform supply vessels (PSVs) and one accommodation work barge (AWB).

Malaysia-based shipbuilder Nam Cheong has received contracts worth $70.5m for two platform supply vessels (PSVs) and one accommodation work barge (AWB).

One of the two PSVs has been ordered by an existing customer, an Asia-based oilfield services firm that also purchased four PSVs from the Malaysian shipbuilder in May 2013.

The company has secured an order for a second PSV from Cyprus-based offshore marine services firm EDT Offshore, which owns and operates a range of high specification offshore support vessels (OSVs).

A subsidiary of Perdana Petroleum Berhad (Perdana) purchased the AWB after ordering two AWBs with similar specifications from Nam Cheong in April 2013.

Perdana is a major offshore marine services provider for the oil and gas industry in Malaysia and the Southeast Asia region.

Each of the two 3,000dwt PSVs will have a length of 75m and will be equipped with dynamic positioning 2 (DP2) systems.

The 100m-long AWB will be equipped with an eight-point mooring system, 300t crane and will be capable of accommodating 300 people.

The three vessels are scheduled to be delivered between the first and fourth quarters of 2014.

Nam Cheong chief executive officer Leong Seng Keat said: "In just a short span of time, we have secured three contract wins – two from repeat customers and another from a new customer in Cyprus."

With the latest contract wins, the group’s order book now stands at MYR1.5bn ($471m); so far in 2013, the company had sold 16 vessels compared to seven sold during the same period in 2012.

All the vessels are currently being built to American Bureau of Shipping (ABS) class at one of Nam Cheong’s subcontracted yards in China as part of Nam Cheong’s build-to-stock series.