Nam Cheong Limited said on Dec, 24 2025 that it has signed a sales agreement with an offshore and marine group based in Vietnam to dispose of one 4,000-deadweight-ton platform supply vessel for approximately 28 million Singapore dollars.

Delivery of the vessel is scheduled for Dec, 2025, and the transaction is expected to contribute positively to the group’s earnings for the financial year ending 2025.

Net proceeds will be redeployed mainly to support Nam Cheong’s ongoing shipbuilding activities, either for external sales or for expanding its own fleet, depending on market conditions.

The sale is part of the company’s fleet-reprofiling strategy, allowing it to monetise older assets, recycle capital efficiently and help customers meet near-term offshore marine demand as exploration and production projects advance.

Based in Sarawak, Malaysia, Nam Cheong specialises in building and chartering offshore support vessels and operates one of the largest OSV shipyards in Malaysia. Since 2007, it has delivered more than 150 vessels and currently manages a chartering fleet of 37 vessels.