Nam Cheong sells vessel for US$20.5 million to Vietnam firm
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Nam Cheong, a Malaysian offshore support vessel builder, will sell a 4,000 deadweight tonnage platform supply vessel for US$20.5 million to a Vietnam-based group. The sale, scheduled for December 2025, will positively impact earnings for the financial year ending 2025. Proceeds will support shipbuilding activities and fleet expansion. The divestment is part of fleet reprofiling initiatives to divest ageing vessels and recycle capital efficiently. Shares rose 3.6% to S$0.875 after the announcement.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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