Malaysia’s Nam Cheong has been awarded chartering contracts for six of its offshore support vessels worth a combined 116.4 million ringgit ($27.7 million).

Nam Cheong confirmed the awards on Tuesday which include contracts for two accommodation work barges, three anchor handling tug supply vessels and one platform supply vessel.

It did not name the clients, saying only that they were “foreign oil majors” and the vessels would mainly be used in East Malaysia waters to support drilling activities.

“The sizable new order wins are a good start for the year, adding more stability and visibility to our revenue and order book going forward,” Nam Cheong chief executive Leong Seng Keat said.

“While we remain vigilant on the market outlook, we will continue to capitalise on our capabilities and reputation in vessel chartering business and diversify into engineering, procurement, construction, installation and commissioning projects to capture more opportunities during the industry upturn.”

The new orders take Nam Cheong’s total order book to 318.2 million ringgit, after including revenues for options for extension.

Rigs And Vessels

Malaysian vessel owner reels in charters worth $27.7m