Nam Cheong of Malaysia has announced the securing of four offshore support vessel contracts, bringing the company's orderbook to a "record high".
The group sold three anchor handlers (AHTS) to jointly controlled entity PT Bahtera Niaga Indonesia (BNI) and a maintenance/OSV to a subsidiary of oil and gas operator Icon Offshore.
"Our cumulative order book now stands at a healthy level of RM1.5 billion (US$460 million)," said Leong Seng Keat, Nam Cheong CEO.
"With global E&P spending expected to see another record-setting year in 2014; rising about six per cent to hit US$723 billion and led by robust activities in the Middle East, Latin America and Russia; we are optimistic of an exciting 2014 ahead."
All four vessels are being constructed as part of the group's build-to-stock series in subcontracted yards in China. The vessels are scheduled for delivery in 2014.