Nam Cheong delivers vessel worth US$22.5m
Tags: Nam Cheong Dockyard Sdn Bhd
Written by Financial Daily
Friday, 16 October 2009 11:21
HO CHI MINH CITY: Nam Cheong Dockyard Sdn Bhd recently signed a deal with Petroleum Technical Services Corporation (PTSC) here to mark the delivery of an offshore support vessel (OSV) valued at US$22.5 million (RM75.6 million) before the end of the month.
Headquartered in Hanoi, PTSC, a unit of the Vietnamese state-owned Vietnam Oil & Gas Group, provides oil and gas technical services in Vietnam and internationally.
“Nam Cheong is not new in the Vietnam market. This year alone, we have sold three vessels to buyers here. This is in addition to six other vessels built by us that are operating in the Vietnam waters currently,” said Nam Cheong managing director Leong Seng Keat.
The agreement was signed between Nam Cheong’s executive chairman Datuk Tiong Su Kouk and PTSC general director Nguyen Hung Bung. YINSON HOLDINGS BHD [] managing director Lim Han Weng witnessed the ceremony. Yinson was the shipbroker of the deal.
Miri-based Nam Cheong specialises in building OSVs. It built and sold 12 vessels last year.
This article appeared in The Edge Financial Daily, October 16, 2009.
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