Malaysia-based offshore marine group Nam Cheong has announced that it is selling two offshore support vessels for $36.7m. The vessels were bought by a vessel operator in Indonesia and a government-linked vessel operator in Egypt. The transactions comprised sales of one newbuild MPSV, the company’s first newbuild sale in over a decade, as well as one 16-year-old, 120-tonne AHTS vessel, which was timed for disposal following the charter contract completion in the first quarter of 2026. According to Nam Cheong, the net proceeds will be primarily redeployed to support its shipbuilding activities, either for external sales or its own fleet expansion. The vessel sales are part of the company’s fleet reprofiling initiatives, enabling the divestment of relatively ageing vessels at opportune timing and pricing, while recycling capital for its in-house shipbuilding operations. “With an ageing global OSV fleet, the company continues to see increasing demand for newbuilds. Earlier this year, Nam Cheong secured its first shipbuilding contract in more than a decade for four OSVs. We view this newbuild sale as a further encouraging signal of emerging shipbuilding demand,” said Leong Seng Keat, CEO of Nam Cheong. Looking forward, offshore activities and demand for OSVs remain robust. Offshore EPCI expenditure is expected to increase meaningfully in 2026, with spending projected to rise 32% to $71bn. At the same time, an ageing fleet and limited newbuild appetite underscore a tightening supply outlook. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsMalaysia