Nam Cheong Secures Orders for Sale of Two Accommodation Work Barges

Malaysia's Nam Cheong – the country's largest offshore support vessel shipbuilder – said Monday that it has won contracts for the sale of two accommodation work barges (AWB) worth $59 million from Perdana Petroleum. 

The AWBs, scheduled for delivery in 2Q 2013, are being built as part of the company's built-to-stock series in one of Nam Cheong's subcontracted yards in China. Both of the vessels measure 328 feet-long (100 meter-long). They will be able to accommodate 300 men and are equipped with an 8-point mooring system and a 300-tonne crane. 

Nam Cheong said in a statement on Monday that these new contracts will contribute positively to the earnings of the company for the financial years ending 2012 and 2013.

Nam Cheong delivers between 12 to 21 vessels each year. The company's current building program includes anchor handling tug supply vessels (AHTS), platform supply vessels (PSV), and AWBs. 

According to a report published by DMG & Partners Research on August 27, 2012, the company has planned to build 18 vessels this year. It will scale up its building program to 19 vessels in 2013 and 20 vessels in 2014. Nam Cheong confirmed on Tuesday that the schedule is accurate.

Nam Cheong had earlier on August 22, 2012, announced that it has secured contracts wins totaling $44 million for one PSV and two AHTs. The PSV will be deployed to West Africa and the AHTs to South America and the Middle East. All of the three vessels are constructed in the company's outsourced shipyards in China, and are scheduled to be delivered between 4Q 2012 to 1Q 2013



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