NewTimeSpace News:According to a February 24, 2026 announcement from the Singapore Exchange,NAM CHEONG LIMITED has entered into a cooperation agreement with a prestigious UAE-based global energy maritime logistics company, securing a US$64.5 million shipbuilding contract for four Offshore Support Vessels (OSVs). This marks the Group’s first newbuild shipbuilding contract in more than a decade, signifying the official resumption and recovery of its shipbuilding business amid a rebound in industry demand.

Under the terms of the contract, the four vessels to be constructed include two 60-metre Dive Support Vessels (DSVs) and two 60-metre Remote Operated Landing Crafts (ROLCs), with delivery scheduled for the second half of 2027 to early 2028. All four vessels will be fully built in-house at the Group’s Miri Yard in Sarawak, Malaysia.

Leong Seng Keat, Chief Executive Officer ofNAM CHEONG LIMITED, stated that this collaboration with the renowned UAE-based energy maritime logistics enterprise is a significant milestone for the recovery of the company’s shipbuilding business. Leveraging decades of shipbuilding experience and strong technical capabilities, the company will seize the opportunities brought by the industry recovery and create long-term value for its shareholders.

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