Nam Cheong wins $66m order for four vessels

The three AHTS vessels were sold to Nam Cheong's joint-controlled entity PT Bahtera Niaga Indonesia and the MWV was sold to a subsidiary of a repeat customer, Icon Offshore.

All four vessels sold are being constructed as part of Nam Cheong's build-to-stock series in its subcontracted yards in China. The vessels are scheduled to be delivered in 2014.

“We are pleased that with these latest wins, our vessel sales is now at a record high of 24, surpassing last year's high of 21 vessels,” said Leong Seng Keat, ceo of Nam Cheong.

“Our cumulative orderbook now stands at a healthy level of MYR1.5bn ($456.1m). With global E&P spending expected to see another record setting year in 2014, rising about 6% to hit $723m, led by robust activities in the Middle East, Latin America and Russia, we are optimistic of an exciting 2014 ahead,” he added.