Advertisement
Singapore markets open in 8 hours 25 minutes

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,028.46
    -43.17 (-0.85%)
     

  • Dow

    37,988.74
    -472.18 (-1.23%)
     

  • Nasdaq

    15,514.27
    -198.48 (-1.26%)
     

  • Bitcoin USD

    64,060.10
    -380.01 (-0.59%)
     

  • CMC Crypto 200

    1,384.37
    +1.79 (+0.13%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Gold

    2,338.20
    -0.20 (-0.01%)
     

  • Crude Oil

    82.58
    -0.23 (-0.28%)
     

  • 10-Yr Bond

    4.7080
    +0.0560 (+1.20%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

Nam Cheong sells two Vessels

Vincent Chia

Nam Cheong Limited announced that it has sold 2 vessels. These are to repeat customers for a total of US$ 58million. The first is a 200 men Accommodation Work Vessel which was sold to Singapore-based Marco Polo Marine Limited. The second is an Anchor Handling Tow Supply Vessel which was sold to Dubai-based Topaz Energy and Marine Limited. The vessels are being built in Nam Cheong’s China JV shipyards. They are scheduled for delivery in 2015 and 2016 respectively. The two sales bring Nam Cheong’s orderbook to RM 1.7billion. Going forward, Nam Cheong believes its larger global base of customers helps to diversify its risk.

GET TO THE POINT : Oil and Gas work still goes on. Vessels will still be sold and contracts for services issued.

Related Articles:

The post Nam Cheong sells two Vessels appeared first on Asean Equities Review.