{"id":100122,"date":"2026-02-23T21:36:08","date_gmt":"2026-02-24T00:36:08","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/894924527"},"modified":"2026-02-23T21:36:08","modified_gmt":"2026-02-24T00:36:08","slug":"nam-cheong-secures-us64-5-million-shipbuilding-contract-its-first-in-over-a-decade","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/23\/nam-cheong-secures-us64-5-million-shipbuilding-contract-its-first-in-over-a-decade\/","title":{"rendered":"Nam Cheong secures US$64.5 million shipbuilding contract, its first in over a decade"},"content":{"rendered":"

[SINGAPORE] Nam Cheong has secured a US$64.5 million contract for four offshore support vessels (OSVs), marking its first newbuild win in more than 10 years, the offshore marine group said on Tuesday (Feb 24).<\/p>\n

The order was placed by an \u201cestablished United Arab Emirates-based energy maritime logistics company\u201d, as newbuild demand gradually gains momentum, the group said.<\/p>\n

The contract involves two 60-metre dive support vessels (DSV) and two 60-metre remote operated landing crafts (ROLC).<\/p>\n

All four units will be constructed in-house at the group\u2019s Miri Yard in Sarawak, Malaysia, with deliveries scheduled for the second half of 2027 and early 2028.<\/p>\n

The vessels will support the customer\u2019s ongoing exploration and production activities, added Nam Cheong.<\/p>\n

Technical specifications<\/h2>\n

The ROLCs represent a significant technical pivot for the yard, as this is the first time that this type of \u201ccutting-edge vessel\u201d will be built in the world, noted the company.<\/p>\n

\n
\n
DECODING ASIA<\/span><\/div>\n

Navigate Asia in
a new global order<\/h3>\n

Get the insights delivered to your inbox.<\/p>\n<\/div>\n<\/div>\n

The vessels will be completely unmanned and operated via satellite connection from a shore station. The design features built-in auto-docking capability for crewless functionality.<\/p>\n

Meanwhile, the DSVs are made for complex operations in harsh open-water conditions, including tasks such as diving support, remotely operated vehicle support and underwater maintenance.<\/p>\n

Financial impact <\/h2>\n

The deal arrives as global oil majors signal increased confidence through mega-project investments, and the existing global OSV fleet \u2013 averaging 15 to 16 years of age \u2013 approaches a critical replacement cycle. <\/p>\n

\n
\n
\n

SEE ALSO<\/p>\n

\n
\n
\n
\n
\"The<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
\n
\"Nam<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Recent decisions by the Organization of the Petroleum Exporting Countries to hike oil production for the eighth consecutive month through November 2025 have further stabilised demand visibility, as the alliance seeks to regain market share and support economic growth.<\/p>\n

\u201cThis marks the beginning of the resurgence in demand for our shipbuilding activities after more than a decade,\u201d said chief executive officer Leong Seng Keat.<\/p>\n

If the conditions of the contracts are met, the deal is expected to contribute positively to the group\u2019s earnings for the financial years ending 2026 to 2028.<\/p>\n

Shares of Nam Cheong ended at S$1.33 on Monday, up S$0.03 or 2.3 per cent.<\/p>\n

\n
\n

Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter.<\/span> Delivered to your inbox. Free.<\/p>\n<\/div>\n<\/div>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… resurgence in demand for our shipbuilding<\/span> activities after more than a …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-100122","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/100122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=100122"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/100122\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=100122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=100122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=100122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}