Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Nam Cheong sells two vessels for $43.1m

Nam Cheong sells two vessels for $43.1m
Malaysian offshore vessel operator and shipyard owner Nam Cheong has sold two vessels for $43.1m.

The Singapore-listed company said it had sold an AHTS to a subsidiary of new Malaysian oil and gas sector customer Kayfour Marine Development Corp. It also sold a PSV to repeat customer EA Emile and Sons Development Company of Nigeria.

With the latest sales Nam Cheong has sold a record seven vessels in the first quarter of 2014. The company’s orderbook has now hit MYR1.4bn ($428m).

“We are very pleased with this strong sales momentum, with seven vessels sold in the first three months of the year,” said Leong Seng Keat, ceo of Nam Cheong. “Notably, since our first entry into West Africa in August 2012, we have made good progress, with our first repeat business from a customer operating in this region, known for its strong prospects in oil discoveries.”