Malaysian offshore vessel owner Nam Cheong has secured contracts for six offshore vessels, raising its orderbook to RM318.2 million ($75.6 million).
The company said Tuesday it had clinched chartering contracts for six OSVs with foreign oil majors worth RM116.4 million ($27,6 million) including options to extend.
The six chartering contracts are for two accommodation work barges (“AWB”), three anchor handling tug supply (“AHTS”) vessels and one platform supply vessel (“PSV”).
The vessels will be mainly operated in East Malaysia waters to support the drilling activities of foreign oil majors, Nam Cheong said in an SGX filing.
With the new order wins, Nam Cheong’s total order book stands at RM318.2 million, after including revenues from options for extension, the offshore vessel owner said. The company did not say which vessels will be deployed as part of the recently awarded contracts.
Commenting on the new contract wins, Leong Seng Keat, Chief Executive Officer of Nam Cheong said; "The sizable new order wins are a good start for the year, adding more stability and visibility to our revenue and order book going forward."
He said: "While we remain vigilant on the market outlook, we will continue to capitalize on our capabilities and reputation in vessel chartering business and diversify into Engineering, Procurement, Construction, Installation and Commissioning projects to capture more opportunities during the industry upturn.”