Nam Cheong wins contract to supply 3 AHTS to RI firm
Thursday, January 2 2014 - 03:01 AM WIB
SGX-listed offshore support vessel (OSV) builder Nam Cheong Limited announced earlier this week it has set a new record high in vessels sales with its latest contract wins of four vessels worth a combined US$66 million.
The Malaysian company said it sold three Anchor Handling Towing Supply Vessels (AHTS) to Indonesia?s PT Bahtera Niaga Indonesia (BNI) and one Maintenance / Work Vessel (MWV) to a subsidiary of a repeat customer, Malaysia?s Icon Offshore Berhad.
BNI is jointly operated by Nam Cheong and its Indonesian partner, a player in the Indonesian?s oil and gas support industry.
Leong Seng Keat, Nam Cheong?s Chief Executive Officer said that with these latest wins, the company?s vessel sales hit a record high of 24 as of end of 2013, surpassing the previous year?s high of 21 vessels.
?Our cumulative order book now stands at a healthy level of RM1.5 billion. With global E&P spending expected to see another record-setting year in 2014, rising about 6% to hit US$723 billion, led by robust activities in the Middle East, Latin America and Russia?, we are optimistic of an exciting 2014 ahead.?
?All four vessels are being constructed as part of the Group?s build-to-stock series in its subcontracted yards in China. They are scheduled for delivery in 2014 and are expected to contribute positively to the Group?s earnings for the financial years ending 31 December 2013 and 31 December 2014,? he ended.
Editing by Reiner Simanjuntak