KUALA LUMPUR, 27 February 2026 (The Capital Post) — Malaysia-based offshore marine group Nam Cheong Limited has secured shipbuilding contracts worth US$64.5 million from a UAE-based global energy maritime logistics company, marking its first new build contract win in more than a decade and signalling renewed momentum in the offshore oil and gas sector.
The contracts involve the construction of four offshore support vessels (OSVs), comprising two 60-metre Dive Support Vessels (DSVs) and two 60-metre Remote Operated Landing Crafts (ROLCs). The vessels are scheduled for delivery in the second half of 2027 and early 2028.
Nam Cheong said the Dive Support Vessels are designed to carry out complex subsea operations such as remotely operated vehicle (ROV) deployment, underwater inspections, and maintenance in challenging offshore environments. Meanwhile, the Remote Operated Landing Crafts represent a major technological advancement, as they will be fully unmanned vessels operated remotely via satellite from shore-based stations, with auto-docking capability for efficient logistical operations.
All four vessels will be constructed at the company’s Miri shipyard in Sarawak, reinforcing Malaysia’s position as a
regional hub for advanced shipbuilding. The company noted that the contracts reflect strong customer confidence in its shipbuilding capabilities, built over more than six decades, and are expected to contribute positively to earnings between 2026 and 2028.
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The contract win comes amid improving outlook for the offshore energy sector, supported by continued oil production increases and renewed investments by major energy companies. Industry observers note that ageing offshore support vessel fleets worldwide many averaging 15 to 16 years are approaching replacement cycles, creating fresh demand for newbuild vessels.
Nam Cheong Chief Executive Officer Leong Seng Keat described the agreement as a significant milestone for the company.
“This marks the beginning of the resurgence in demand for our shipbuilding activities after more than a decade. We are grateful for the trust placed in us and confident that our technical expertise and proven track record will enable us to deliver long-term value,” he said.
Founded in Sarawak in 1968, Nam Cheong has grown into Malaysia’s largest builder of offshore support vessels and has delivered more than 150 vessels globally since 2007. The group also operates a charter fleet of 36 vessels and serves customers across Southeast Asia, the Middle East, Europe, Africa, and the Americas.
The latest contracts underscore both Nam Cheong’s recovery in shipbuilding activities and broader confidence in offshore energy exploration and production, positioning the company to benefit from renewed industry expansion. – The Capital Post
