Singapore Stock Exchange listed Nam Cheong Limited (Nam Cheong), a Southeast Asian Offshore Support Vessel (OSV) provider headquartered in Sarawak (Malaysia), announce that it has secured another RM317.1 million (about USD 72.5 million) in new charter contracts.
Nam Cheong Limited has signed multi-year offshore support vessel (OSV) charter contracts with leading regional oil majors, and these contracts involve seven Anchor Handling Tug Supply (AHTS) vessels which will be deployed across Malaysian waters for minimum two years with options to extend.
With these new signed contracts Nam Cheong has secured RM1.54 billion (about USD 352.2 million) in contracts within the last six months as a major player in Southeast Asia’s offshore marine industry.
The strategic goal of Nam Cheong is to secure 70% of their fleet in long-term charter contracts, with 57% already secured across ASEAN and the Middle East regions, as the company informs.
