Malaysian shipbuilder and charterer Nam Cheong Dockyard has entered into sales agreements with a vessel operator in Indonesia and a government-linked operator in Egypt to sell two offshore support vessels (OSVs) for US$36.7 million.
The transactions comprised sales of one newbuild multi-purpose support vessel (pictured), which Nam Cheong said is its first newbuild sale in over a decade, as well as one 120-tonne anchor handling tug supply vessel (AHTS) turning 16 years old in 2026.
The AHTS was timed for disposal following the charter contract completion in the first quarter of 2026. Both OSVs have been delivered in Q2 2026.
Nam Cheong said the net proceeds will be primarily redeployed to support the group’s shipbuilding activities, either for external sales or to support the group’s fleet expansion to grow the recurring income base, depending on prevailing opportunities.
The vessel sales are part of the Nam Cheong Group’s fleet reprofiling initiatives, enabling the divestment of relatively ageing vessels at opportune timing and pricing, while supporting efficient capital recycling for its in-house shipbuilding operations.
