Nam Cheong to Sell Supply Vessel for $21 Million; Shares Up 4%

MT Newswires

2025/12/24

Nam Cheong (SGX:1MZ) agreed to sell one 4,000 deadweight ton platform supply vessel to a Vietnam-based offshore and marine group for $20.5 million, according to a Wednesday filing with the Singapore Exchange.

The sale is part of the company's fleet reprofiling and capital recycling initiatives, with proceeds raised to support shipbuilding activities.

Delivery of the vessel is expected later this month and will contribute positively to the company's financials for the year ending Dec. 31.

Shares of the offshore support vessel provider were up nearly 4% in Wednesday trading.

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