(Image courtesy of Nam Cheong)

Nam Cheong Limited, Malaysia’s largest Offshore Support Vessel (OSV) builder, announced Monday that it has sold four Platform Supply Vessels (PSVs) worth $120 million.

The undisclosed customer is new to Nam Cheong and is an emerging offshore marine services company based in Latin America.

Leong Seng Keat, Nam Cheong’s CEO said, “We are delighted to have secured one of our largest contracts for the year to bring our cumulative order book to $521.4 million (MYR 1.7 billion). These four vessels bring our total sales for the year to 20, which is close to surpassing our record of 21 vessels sold last year.”

The four vessels are being constructed in its subcontracted building yard in China and are scheduled for delivery in 2014.

Each of the four 3,200-dead weight ton Det Norske Vertias-class PSVs is 258.2 feet long and is equipped with diesel electric propulsion and dynamic positioning system class 2.

Nam Cheong is listed on the main board of the Singapore Exchange Securities Trading Limited (SGX)


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