Nam Cheong Secures LOI Worth $186m

Source: www.gulfoilandgas.com 10/17/2014, Location: Asia

Nam Cheong, a leading global offshore marine player and Malaysia's largest Offshore Support Vessel builder, has secured Letters Of Intent (LOI) from five customers worth about US$186 million, with a mix of sale and charter of 12 NCA80E vessels.

The group has also secured options for the sale of the eight additional NCA80E Anchor Handling Tug Supply (AHTS) vessels that have just been launched.

The five customers are Bumi Armada Berhad, Geooffshore Pte Ltd, Opstad Group, Sofield Marine & Offshore Sdn Bhd as well as Vega Offshore Group.

The potential sale of the 20 vessels through the LOIs and options represent a 100 per cent take-up rate of the 20 vessels planned for delivery.

Nam Cheong also launched the latest NCA80E.

The vessel is a 64.8m diesel electric powered AHTS with 80 tonnes bollard pull and based on Nam Cheong's proprietary design.

Speaking at the launch here, Nam Cheong's executive chairman, Datuk Tiong Su Kouk said the launch of the NCA80E vessel is a major milestone for the Group as it is based on the company's proprietary design and also its first vessel launch in Singapore.

"Customers are increasingly demanding for such sophisticated OSVs and we received strong interest from customers worldwide for such a versatile vessel to be deployed in waters globally.

"Backed by our deep expertise in engineering and cutting-edge technology required to design and build such vessels, we are confident of powering ahead in the industry and are excited by the prospects," he added.


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Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


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