Nam Cheong sells three offshore vessels
Offshore support vessels shipbuilder Nam Cheong won contracts worth $51.5m to sell two platform supply vessels (PSVs) and one anchor handling towing supply (AHTS) vessel, Seatrade Asia reported.
The PSVs are sold to Bumi Armada Navigation and the AHTS vessel is sold to Gulf Glory Marine Services.
The two PSVs and the AHTS are being built as part of the company's built-to-stock series in one of its subcontracted yards in China.
The PSVs are scheduled to be delivered between end-2011 and mid-2012 while the AHTS vessel is slated for delivery in mid-2012.
The latest contracts boost the Malaysia-based company's order wins this year to 12 vessels at a total value of RM673m ($209.8m)
Leong Seng Keat, Nam Cheong's executive director, said investment in oil exploration and production activities will continue as oil prices remain high.
“Anything above $50 a barrel in oil prices is very comfortable for oil majors to continue to deploy assets in shallow water. That's why we continue to see demand for smaller AHTS vessels that is driven by shallow water oil and gas activities,” Leong said.
The PSVs are sold to Bumi Armada Navigation and the AHTS vessel is sold to Gulf Glory Marine Services.
The two PSVs and the AHTS are being built as part of the company's built-to-stock series in one of its subcontracted yards in China.
The PSVs are scheduled to be delivered between end-2011 and mid-2012 while the AHTS vessel is slated for delivery in mid-2012.
The latest contracts boost the Malaysia-based company's order wins this year to 12 vessels at a total value of RM673m ($209.8m)
Leong Seng Keat, Nam Cheong's executive director, said investment in oil exploration and production activities will continue as oil prices remain high.
“Anything above $50 a barrel in oil prices is very comfortable for oil majors to continue to deploy assets in shallow water. That's why we continue to see demand for smaller AHTS vessels that is driven by shallow water oil and gas activities,” Leong said.