Nam Cheong seals US$92m deal; appoints exec vice-chairman

OFFSHORE marine player Nam Cheong yesterday announced the sale of another four vessels worth about US$92 million, in addition to the appointment of John Tiong Chiong Hiiung as the group's executive vice-chair-man.

Of the four vessels, three were platform supply vessels (PSVs) sold to a repeat customer, a "leading oilfield services company based in Asia", said Nam Cheong. Each PSV has a capacity of 3,000 deadweight tonnes and is 75 metres in length.

The fourth is a 200-man accommodation work boat sold...

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