Singapore-listed Nam Cheong wins contract to sell five vessels for $89.3m
Offshore marine group Nam Cheong has secured a contract to sell five vessels to a repeat customer for around US$70 million (S$89.3 million).
The mainboard-listed group said on Tuesday it sold four Emergency Response and Rescue vessels and one Anchor Handling Towing Supply vessel to Sentinel Marine, an Aberdeen-based company that owns and operates offshore support vessels.
Nam Cheong, Malaysia's largest offshore support vessel builder, had sold four Emergency Response and Rescue vessels to Sentinel a year ago.
All five vessels are being constructed in Nam Cheong's subcontracted yards in China.