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The latest announcement is out from Nam Cheong Limited ( (SG:1MZ) ).
Nam Cheong Limited has secured OSV charter contracts valued at up to USD47.5 million, set to commence in 2025, supporting environmental projects in the Middle East and an offshore wind farm in Japan. This strategic move enhances the company’s fleet utilization to 63% under long-term charters, marking progress towards a 70% target, and reflects its strategy to diversify geographically and mitigate risks, thereby strengthening its market position amid evolving global energy demands.
More about Nam Cheong Limited
Nam Cheong Limited, based in Sarawak, Malaysia, is a leading provider of Offshore Support Vessels (OSVs) in Southeast Asia. The company specializes in supplying vessels such as anchor handling tug supply vessels and fast crew boats, focusing on supporting offshore operations across various sectors, including oil and gas, offshore renewables, and environmental marine services.
Average Trading Volume: 1,795,639
Technical Sentiment Signal: Sell
Current Market Cap: S$177.3M
Learn more about 1MZ stock on TipRanks’ Stock Analysis page.