Dozen for Nam Cheong

Singapore Exchange-listed Nam Cheong has secured Letters of Intent (LOI) from five customers worth approximately USD 186 million, with a mix of sale and charter of 12 newly launched
NCA80E, 64.8m diesel electric powered Anchor Handling Tug Supply Vessels (AHTS). The group has also secured options for the sale of eight additional NCA80E vessels. The five customers are Bumi Armada Berhad, Geooffshore Pte Ltd, Opstad Group, Sofield Marine & Offshore Sdn Bhd as well as Vega Offshore Group.

The potential sale of the 20 vessels through the LOIs and options represents a 100% take-up rate of the 20 vessels planned for delivery. The NCA80E vessels are of American Bureau of Shipping (ABS) class and are being constructed as part of Nam Cheong’s built-to-stock series in the group’s Miri shipyard in Sarawak, East Malaysia as well as the group’s subcontracted yards in China.