The contracts comprise four Emergency Response and Rescue Vessels (ERRV) and one AHTS to be built under sub-contract at yards in China. The four ERRV vessels have been ordered directly from Nam Cheong, while the AHTS is part of the built-to-stock series of speculative newbuildings.
The vessels are scheduled for delivery in 2015 and 2016.
Sentinel Marine is a repeat customer having previously ordered four ERRV’s from Nam Cheong.
“Our cumulative order book stands at a healthy level of MYR1.5bn ($449m), a good reflection of the upbeat offshore support vessel segment. This in turn is buoyed by the strong market for rigs, underpinned by a sustained high oil price environment,” said Leong Seng Keat, ceo of Nam Cheong.
“We are confident that shallow and mid-water regions will continue to see a pickup in demand for OSVs, especially for small-to-mid-sized AHTSs, as well as mid-sized PSVs.”
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