Nam Cheong mulls sale of 20 vessels for almost $270m

It has received letters of intent from five customers.

Mainboard-listed shipbuilder Nam Cheong today revealed that it has secured Letters of Intent (“LOI”) from five customers worth approximately $270m (US$186 million), with a mix of sale and charter of 12 newly launched NCA80E Anchor Handling Tug Supply Vessels.

The five customers are Bumi Armada Berhad, Geooffshore Pte Ltd, Opstad Group, Sofield Marine & Offshore Sdn Bhd as well as Vega Offshore Group.

Nam Cheong has also secured options for the sale of eight additional NCA80E vessels. The potential sale of the 20 vessels through the LOIs and options represent a 100% take-up rate of the 20 vessels planned for delivery.

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