Thanks to a new customer from LatAm.
According to OSK, Nam Cheong announced that it has sold four platform supply vessels (PSVs) for USD120m to a new customer in Latin America. This brings its orderbook to a record MYR1.7bn. At USD30m/vessel, the PSVs’ prices are well above expectations. Order momentum has clearly swung up, and we expect more large contracts in 4QFY13.
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