Nam Cheong invests in Indonesian joint venture

Malaysia-based offshore vessels builder Nam Cheong has entered into an agreement with Indonesia-based Bahtera Niaga Internasional (BNI) to jointly invest in a shipping firm in Indonesia.

The joint venture company, Bahtera Niaga Indonesia, is aimed at seizing opportunities in the offshore Indonesian market through owning, operating and chartering of offshore support vessels (OSVs), according to Nam Cheong.

Nam Cheong will acquire 49% of the equity stake in Bahtera Niaga Indonesia from BNI at a price of $1.5m.

“The joint venture will help to enhance the group's vessel chartering operations and grow its recurring income stream through the utilisation of BNI's ship management and crew expertise,” Nam Cheong said.

It added that it believes the joint venture is in line with the company's intention to grow its presence in the Indonesian market.

Posted 19 September 2013

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

Seatrade Offshore Marine Workboats stacked

Seatrade Offshore Marine and Workboats Middle East

Madinat Jumeirah, Dubai • 23 – 24 September 2019

Join nearly 3,000 powerful personalities and alight at the meeting point for the global offshore marine, specialist vessel and workboat industry.

Exhibitor Opportunities >