Nam Cheong sees record OSV deliveries in 2014-15

Singapore

NAM Cheong Ltd, Malaysia's biggest builder of offshore support vessels (OSVs), expects record deliveries this year and next as the company's focus on shallow-water oil search products helps it withstand a drop in crude-oil prices.

Nam Cheong expects to hand over 30 vessels that provide support to offshore exploration and production facilities this year and 35 in 2015, chief executive officer Leong Seng Keat said in an interview. The company delivered 20 vessels last year.