SIBU: Nam Cheong Limited (Nam Cheong), one of Southeast Asia’s leading Offshore Support Vessel (OSV) providers based in Sarawak, recently secured shipbuilding contracts worth USD64.5 million (RM250.74 million) for four units of OSV from an established United Arab Emirates (UAE) based global energy maritime logistics company.
This marks the Group’s first shipbuilding contract-win in over a decade, as new-build demand recovery gradually gains momentum.
According to Nam Cheong’s press release on Thursday, the contracts comprised two 60-metre Dive Support Vessels (DSV) and two 60-metre Remote Operated Landing Crafts (ROLC), expected to be delivered within the second half of next year (2H2027) and early 2028.
The DSV is a highly sophisticated offshore asset specifically designed to carry out a wide range of complex subsea operations under harsh open-water conditions, including tasks such as Diving Support, Remotely Operated Vehicle (ROV) support, underwater inspections and maintenance.
The ROLC, which is first-of-its-kind to be built in the world, is a cutting-edge vessel based on the remote-control system developed by SeaOwl Group, and will be totally unmanned and remotely operated via satellite connection from shore station.
The vessel, equipped with built-in auto docking capability, will be used for logistical operation that requires rapid deployability, versatility and crewless functionality.
All four OSVs, which will be fully constructed in-house at the Group’s Miri Yard, reflect the Group’s strengthened shipbuilding capabilities developed over 60 years, while also showcasing the customer’s strong trust and confidence in the Group’s proven track record built over decades.
The Organisation of Petroleum-Exporting Countries (OPEC) recently announced another oil output hike for November 2025, representing the eighth consecutive month of production hikes as the alliance seeks to regain market share and support their economic growth.
These four new-build vessels, upon delivery, will be added into the customer’s fleet expansion and renewal programme, supporting its ongoing exploration and production activities.
Looking forward, the global oil majors appear optimistic, evidenced by their willingness to invest in new mega projects and make huge acquisitions.
“This indicates that their confidence on long-term crude oil prices will remain sufficiently elevated to justify substantial capital commitments in new fields, thereby enhancing demand visibility for new-build OSVs, as the existing global fleet, averaging 15 -16 years of age, approaches replacement cycle,” added the statement.
Commenting on the new contract-wins, Nam Cheong’s Chief Executive Officer, Leong Seng Keat said, “We are thrilled to have an established UAE-based global energy martime logistics company as our new customer, for constructing four highly sophisticated OSVs.
“This marks the beginning of the resurgence in demand for our shipbuilding activities after more than a decade. We are deeply grateful for the customer’s trust and confidence in us and equally proud that our own efforts and continuous upskilling have brought us to this milestone.
“I am confident that our decades of proven track record in shipbuilding, strengthened technical know-how, and commitment to meeting customers’ requirements will enable us to ride on this positive new-build momentum and deliver long-term value to our shareholders,” Leong added.
