The current project expected to contribute positively to the earnings of Nam Cheong Limited upon its further steering of shipbuilding is the construction of a 5,150 brake horsepower Anchor Handling Towing Supply (AHTS) vessel that will be sold to Gulf Glory Marine Services LLC, a United Arab Emirates-based company that owns and operates a large fleet of offshore support vessels.
The 5,150 bhp AHTS vessel is 59 meters long and has a bollard pull of 62 tons. The ABS class vessel is powered by 2 x CAT 3516B, 2575 BHP at 1600rpm, heat exchanged cooled, 24V DC electric start reaching a speed of 13 knots at 100% MCR at Ballast Condition with a forward PTO for FiFi pump for each main engine. She features 2 x BowCPP Tunnel Thrusters, 8mt Thrust, electric motor driven and 2 x Reinjtes LAFF873L, Ratio 7.526:1, c/w with PTO for 800kW shaft generators for each gear box. The vessel comprises a 340m² clear deck space and the approximate deadweight is 1400mt. She is designed to undertake towing or anchor handling services with the minimum pulling power of 60 tons as well as safety rescue services and supply duties between mainland and offshore installations. The accommodation is suitable for 42 crew members. The delivery is planned for mid-2012.
The AHTS, including two PSVs contracted by Bumi Armada Navigation Sdn Bhd, are being built as part of the Group’s built-to-stock series in one of Nam Cheong’s subcontracted yards in China, reaching the total value of US$51.5 million (approximately S$66.8 million1).
Consequently, in 2011, Nam Cheong made 12 vessel sales at a total value of RM673 million (approximately S$274 million2) thus surpassing the order win of 10 vessels at a total value of RM505 million recorded in 2010.
“We are grateful that our existing customers continue to work with us despite the market volatility and global economic uncertainties,” said Datuk Tiong Su Kouk, CEO and Executive Chairman of Nam Cheong . “The confidence that our customers have in us speaks volume of our four decades of track record and experience, which is backed by a sound business model.”
Headquartered in Kuala Lumpur, Malaysia, Nam Cheong is a global leading offshore marine group specializing in the building of OSVs. Nam Cheong is the largest shipbuilder of OSVs in Malaysia and with nearly 7% of the regional market share, makes the Group the second largest player east of the Suez Canal.
[mappress]
World Maritime News Staff, January 17, 2012; Image: Nam Cheong