Nam Cheong wins orders for two accommodation work barges

3 September 2012 (Last Updated September 3rd, 2012 18:30)

Singapore-based shipbuilder Nam Cheong has received a $59m contract for the sale of two accommodation work barges (AWBs) to Malaysia-based Perdana Petroleum.

Singapore-based shipbuilder Nam Cheong has received a $59m contract for the sale of two accommodation work barges (AWBs) to Malaysia-based Perdana Petroleum.

Both vessels will be of the ABS Class, and are expected to be built at one of Nam Cheong’s subcontracted yards in China as part of the company’s built-to-stock series.

Each of the vessels will have a length of 100m and will be capable of accommodating 300 people, with scheduled delivery in the second quarter of 2013.

The vessels will each be equipped with an eight-point mooring system and a 300t crane.

With the latest contract, the order book of Nam Cheong has increased to RMB1.06bn ($167m) for 2012 so far, a figure that has already surpassed the RMB757m ($119.3m) it recorded in 2011.

Nam Cheong executive director Leong Seng Keat said Petronas, Malaysia’s national oil firm, has budgeted RM300bn ($47.3bn) for 2011 to 2015.

"With the boom in the oil and gas industry, more of our Petronas-licensed customers are benefiting from higher utilisation of their marine vessels," Keat said.

In August 2012, Nam Cheong 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 5,150bhp AHTS vessels to a Norwegian-based firm that will own, operate and manage the vessel under a long-term charter contract with Petrobras.

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

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