Nam Cheong Limited has secured multi-year offshore support vessel (OSV) charter contracts worth RM317.1 million ($94.52 million) according to a release dated Apr 16.
The charter agreements include seven units of Anchor Handling Tug Supply (AHTS) vessels, which will be deployed in Malaysia and Thailand waters.
These vessels are multi-role workhorses in offshore operations, capable of handling heavy-duty towing and anchoring, while also providing logistical support and emergency response services, Nam Cheong says.
The group now has 21 vessels under long-term charter, representing about 56.8% of its total fleet. Nam Cheong says that this is in line with its target to increase the proportion of vessels under long-term contracts to 70%.
Shares in Nam Cheong closed 1.5 cents higher or 2.857% up at 54 cents on Apr 16.
