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Nam Cheong wins up to $43 mil in chartering contracts

Michelle Zhu
Michelle Zhu5/29/2019 07:15 AM GMT+08  • 1 min read
Nam Cheong wins up to $43 mil in chartering contracts
SINGAPORE (May 29):  Nam Cheong, the Malaysia-based builder of OSVs (offshore support vessels), says subsidiary SKOSV Sdn Bhd has clinched long-term chartering contracts for three OSVs worth RM80 million ($26.4 million) with Malaysian oil majors.
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SINGAPORE (May 29): Nam Cheong, the Malaysia-based builder of OSVs (offshore support vessels), says subsidiary SKOSV Sdn Bhd has clinched long-term chartering contracts for three OSVs worth RM80 million ($26.4 million) with Malaysian oil majors.

The contracts also come with an option for extension that is worth RM50 million in total, bringing the group’s chartering orderbook to RM295 million including RM140 million worth of option for extension.

All three vessels will be used to service works on floating LNG facilities and other production operations in Malaysian waters until 2022, with the optional extension period running until 2024.

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