Nam Cheong wins orders for PSV and two AHTS vessels

23 August 2012 (Last Updated August 23rd, 2012 18:30)

Singapore-based shipbuilder Nam Cheong has received contracts worth $43.81m to supply one platform supply vessel (PSV) and two anchor handling towing supply (AHTS) vessels.

Singapore-based shipbuilder Nam Cheong has received contracts worth $43.81m to supply one platform supply vessel (PSV) and two anchor handling towing supply (AHTS) vessels.

The ABS-class PSV has been ordered by an unnamed West Africa-based company, and will be 75m long, have 3,000dwt capacity and will be equipped with a Dynamic Positioning 2 system.

Nam Cheong sold one of the 5,150 bhp AHTS vessels to a Norwegian-based company that will own, operate and manage the vessel under a long-term charter contract with Petrobras.

The sale represents a repeat order for Nam Cheong, which won a $36.8m deal for two AHTS ships with the Norwegian firm in March 2012.

The second AHTS vessel was sold to a ship owner based in the Middle East and will be deployed in the region’s waters.

Both AHTS vessels will have a length of 59m and will have a bollard pull of 62 tonnes.

Nam Cheong executive director Leong Seng Keat said that winning the contract from the company’s new West African customer has effectively expanded their geographical market.

"This new customer services the oil and gas industries in one of the oil-rich nations in the West African region," Keat said.

"At the same time, we are also getting repeat orders from established customers in markets where vessels built by us have been deployed, such as in South America and the Middle East," Keat added.

All three vessels are being built at one of Nam Cheong’s subcontracted yards in China as part of its built-to-stock series.

The vessels are scheduled to be delivered between the fourth quarter of 2012 and first quarter of 2013.