Nam Cheong to sell vessel for US$20.5 million KUCHING (Dec 29): Nam Cheong Ltd (Nam Cheong) has entered into a sales agreement with an established Vietnam-based offshore and marine group to dispose of a 4,000 deadweight ton (DWT) platform supply vessel (PSV) for US$20.5 million. The Sarawak-based, Singapore-listed offshore support vessel (OSV) provider said delivery of the vessel is scheduled for December 2025, with the transaction expected to contribute positively to the group’s earnings for the financial year ending 2025. It added that the net proceeds from the sale will be redeployed primarily to support the group’s shipbuilding activities. This includes vessels intended for external sales or fleet […]

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