Nam Cheong has reported a significant increase in its third-quarter revenue for 2026, reaching RM179.5m, driven by higher vessel utilisation rates. The company saw its vessel utilisation rise to 85% in Q3 2026, up from 70% in the same period last year. This improvement has contributed to a 31% increase in profit attributable to owners of the parent, totalling RM59.9m compared to RM45.8m in Q3 2025.
The company’s chartering gross margin also improved, climbing to 51% from 42% in the first quarter of 2026, despite facing higher operating costs in the Middle East. Nam Cheong’s fleet expanded with the addition of three vessels during the quarter, bringing the total to 38 vessels and further enhancing its recurring income base.
The financial results underscore Nam Cheong’s resilience and strategic growth in the maritime sector. The company’s ability to increase its fleet and improve utilisation rates has been pivotal in boosting its financial performance amidst challenging market conditions. The rise in profit and revenue highlights the effectiveness of Nam Cheong’s operational strategies and positions the company for continued growth.
Looking ahead, Nam Cheong’s expanded fleet and improved utilisation rates are expected to sustain its financial momentum, potentially leading to further revenue and profit increases in future quarters.
