Asset sales
For Nam Cheong, it sold two of its vessels separately in December 2025 and January 2026. The deals were part of the company’s fleet reprofiling and capital recycling efforts.
The first transaction was for a 4,000 deadweight tonnage (DWT) platform supply vessel (PSV) for US$20.5 million to a Vietnam-based offshore and marine group. Nam Cheong says that net proceeds from this sale were to be mainly redeployed to support shipbuilding activities. The newbuilds were either for external sales or to support the company’s fleet expansion to grow the recurring income base, depending on prevailing opportunities, according to Nam Cheong.
The $19.8 million sale of the second vessel, an 11-year-old 3,000 deadweight tonnage PSV, was to an Indonesian customer for immediate deployment to support ongoing operations in Indonesia.
See also: Nam Cheong charts future growth course
Following the transactions, Nam Cheong’s fleet will comprise 36 offshore support vessels (OSVs) with an average vessel age of 9 years. The company says that the relatively young fleet provides the firm with a “long runway” to generate recurring income from charter contracts, or monetisation at opportune times to advance capital recycling
Nam Cheong CEO Leong Seng Keat says that the company is at a “sweet spot” supported by its complementary OSV chartering and shipbuilding businesses. He believes that the company has the flexibility to earn recurring income from sales of aging vessels or chartering and at the same time, have the optionality to generate recurring income through the monetisation of its older vessels via ship sales or continue to generate revenue with our chartering services. At the same time, harness its shipbuilding capabilities to build ships for sale or to expand its chartering fleet. “We believe this dual-pronged strategy will not only advance growth momentum with stronger cash flows but also unlock shareholder value over time.”
Credit
To fund its growth, expand into renewables and integrate sustainability into the business, Seatrium has secured green loans and credit facilities from multiple financial institutions over the past five years.
For instance, OCBC Bank granted a green trade finance facility to Seatrium in 2023 for an estimated EUR720 million ($1.08 billion), making this one of the largest syndicated financing solutions for the maritime industry at that time, issued by a sole bank.
Aligned to internationally-recognised Green Loan Principles, the facility supported Seatrium’s offshore renewable projects and decarbonisation efforts, furthering the implementation of green measures and investments in sustainable and environmental-friendly technology and practices within its operations.
OCBC head of global corporate banking Elaine Lam says that the bank is committed to supporting clients’ sustainability goals and acceleration to a low-carbon economy. She shares, “Sustainability is a key driver in the transformation of the global offshore and marine industry and we are glad to work with forward-looking customers such as Seatrium.”
When recently asked by The Edge Singapore about how OCBC assesses financing opportunities in the offshore and marine sector, OCBC shares that considerations include a company’s operating track record, financial position, liquidity, asset or project characteristics, as well as prevailing industry, market and geopolitical conditions.
“As the global energy landscape shifts towards sustainability, we also engage clients on their transition plans and encourage the adoption of lower‑carbon and more sustainable pathways where appropriate,” says Lam. “We continue to support offshore and marine projects that have sound fundamentals, appropriate risk mitigation, and are suitably structured and consistent with long‑term sustainable development objectives.”
Beyond credit from financial institutions, Seatrium is tapping the debt market with the recent announcement to launch a $3 billion multi-currency debt issuance programme in which the company or its subsidiary Seatrium Financial Services may issue notes or perpetual securities.
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Each series or tranche of notes may be issued in various amounts and tenors, and may bear interest at fixed rate, floating rate or zero coupon. Seatrium says that the net proceeds from each issue of the instruments will be used for the refinancing of existing borrowings, financing of potential acquisition and investment opportunities, working capital requirements, capital expenditure requirements and other general corporate purposes.
Equity issue
In addition to asset sales and credit, companies may also raise funding via new share placement. For instance, Marco Polo Marine (MPM) completed a private share placement that raised gross proceeds of approximately $21 million on March 4.
MPM issued nearly 145 million new ordinary shares at an issue price of 14.5 cents per share, attracting new and existing institutional investors. The proceeds will be used to support MPM’s project pipeline and fund capital expenditure in line with its business expansion plans. MPM adds that the capital injection also strengthens the company's balance sheet and provides the financial flexibility to accelerate its expansion initiatives, particularly in the offshore wind energy sector.
"We are delighted with the strong support for our private placement, which reflects a clear endorsement of our vision and strategy,” says CEO Sean Lee. “This successful fund-raising exercise provides us with the capital to pursue our pipeline of value accretive projects and further solidifies our position as a key player in the region's energy transition.”
