Image courtesy of Nam Cheong.

Offshore marine player Nam Cheong Limited sold an anchor handling towing supply vessel and a platform supply vessel Monday in two separate transactions worth a combined $45 million.

The company sold an anchor handling towing supply vessel to Netherlands-based shipping company Vroon B.V.

Nam Cheong also sold a platform supply vessel to E.A. Temile Development Company, a West Africa-based engineering and construction company.

The two vessels are both American Bureau of Shipping class and are being constructed as part of Nam Cheong’s built-to-stock series in the group’s subcontracted yards in China.

The vessels are scheduled for delivery in 2015 and are expected to “contribute positively” to the group’s earnings for the financial years ending December 31, 2014 and December 31, 2015, Malaysia-based Nam Cheong said.

“Despite the tougher external environment, particularly for our deepwater counterparts, the shallow water segment remains highly resilient even to recently announced capital expenditure cuts by national oil companies,” CEO Leong Seng Keat said.


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