Nam Cheong Limited, a leading offshore support vessel provider based in Sarawak, Malaysia, has announced the acquisition of shipbuilding contracts valued at US$64.5m. The contracts, awarded by a UAE-based global energy maritime logistics company, mark Nam Cheong’s first newbuild order in over ten years, reflecting a resurgence in demand for offshore support vessels amid strengthening offshore oil and gas activities.
The contracts involve the construction of four offshore support vessels (OSVs), comprising two 60-metre Dive Support Vessels and two 60-metre Remote Operated Landing Crafts. These vessels are scheduled for delivery in the second half of 2027 and early 2028. Notably, the Remote Operated Landing Crafts will be among the first of their kind globally, featuring unmanned operations controlled remotely via satellite.
All vessels will be constructed at Nam Cheong’s Miri Yard in Sarawak, showcasing the company’s advanced shipbuilding capabilities developed over six decades. The newbuilds are expected to contribute positively to Nam Cheong’s earnings from 2026 to 2028, subject to contract conditions.
Nam Cheong’s CEO, Leong Seng Keat, expressed enthusiasm about the contracts, stating, “We are thrilled to have an established UAE-based global energy maritime logistics company as our new customer. This marks the beginning of the resurgence in demand for our shipbuilding activities after more than a decade.”
The Organisation of Petroleum Exporting Countries (OPEC+) has recently announced another oil output hike, indicating a positive outlook for the oil industry. This development is expected to enhance demand for newbuild OSVs as the global fleet approaches its replacement cycle.
