Nam Cheong Limited (“Nam Cheong”, or together with its subsidiaries, the “Group”), a leading global offshore marine player and Malaysia’s largest Offshore Support Vessel (“OSV”) builder, has booked orders worth $70 million for construction of four Emergency Response and Rescue Vessels (“ERRV”) and one Anchor Handling Towing Supply Vessel (“AHTS”) from a repeat customer, Sentinel Marine, the shipbuilder's press release said.
A year ago, Nam Cheong sold four 3,755 bhp ERRV to Sentinel Marine, an emerging Aberdeen-based company which owns and operates OSVs.
The four ERRVs are being constructed under Nam Cheong’s build-to-order model, whereas the AHTS vessel is being constructed as part of the Group’s build-to-stock series. All five vessels are being constructed in its subcontracted yards in China. They are scheduled for delivery in 2015/16 and are expected to contribute positively to the Group’s earnings for the financial years ending 31 December 2014 to 31 December 2016.
Headquartered in Kuala Lumpur, Malaysia, Nam Cheong is a global leading offshore marine group specialising in the building of OSVs. Nam Cheong is the largest shipbuilder of OSVs in Malaysia and with about 7% of the regional market share and the second largest player east of the Suez Canal.
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