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Nam Cheong Limited ( (SG:1MZ) ) has shared an announcement.
Nam Cheong has agreed to sell an 11-year-old, 3,000 DWT platform support vessel to an Indonesian customer for US$19.8 million, with delivery expected in the first quarter of 2026. The sale is part of the Group’s fleet reprofiling strategy and is expected to boost earnings in the 2026 financial year, while the net proceeds will be used to accelerate debt repayment and support working capital. Following the transaction, Nam Cheong will manage 36 OSVs with an average age of nine years, positioning it to capture recurring charter income or pursue further vessel monetisation amid rising offshore activity in Indonesia and a growing global OSV market. Management highlighted that its dual-pronged business model of OSV chartering and shipbuilding is intended to strengthen cash flows and enhance long-term shareholder value.
The most recent analyst rating on (SG:1MZ) stock is a Buy with a S$1.50 price target. To see the full list of analyst forecasts on Nam Cheong Limited stock, see the SG:1MZ Stock Forecast page.
More about Nam Cheong Limited
Nam Cheong Limited is one of Southeast Asia’s leading offshore support vessel (OSV) providers, based in Sarawak, Malaysia. The Group operates a relatively young fleet of OSVs and is active in both vessel chartering and shipbuilding, targeting offshore oil and gas markets across the region.
Average Trading Volume: 3,867,594
Technical Sentiment Signal: Hold
Current Market Cap: S$424.1M
For detailed information about 1MZ stock, go to TipRanks’ Stock Analysis page.