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    Nam Cheong sells PSV and two AHTS vessels

    Vessel & ROV News // January 3, 2013

    Nam Cheong Limited in Malaysia has sold a PSV and two AHTS vessels worth a total of US$56.4 million, bringing the total number of vessels sold in 2012 to 21. This surpasses the number of units sold in 20122 and is an all-time record high for annual vessel sales by the group.

    Datuk Tiong Su Kouk, Nam Cheong's Executive Chairman and CEO, said: "We are pleased to end the year on a high note, riding on industry momentum that has helped us win a slew of contracts for 2012.

    "Once again, our ability to capture demand and secure wins in a booming offshore and marine market, both domestically and globally, is a testament to our competitive strengths and unique business model."

    The 5,000 dwt PSV has been sold to a new customer, one of the major marine services providers to the offshore oil and gas industry in the Asia Pacific region.

    The two 5,150 bhp AHTS vessels have been sold to Icon Offshore Berhad, which is one of Malaysia’s largest OSV groups.

    Icon Offshore has a portfolio of approximately 30 vessels providing various logistic, oil and gas services in Asia Pacific. The vessels are the second and third AHTS vessels that Icon Offshore has purchased from Nam Cheong.

    Icon Offshore first purchased an AHTS vessel from Nam Cheong through its subsidiary, Omni Marissa (L) Inc, in August 2011.


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