MAYLAYSIAN shipbuilder Nam Cheong announced that it has sold two vessels worth about US$58 million to two repeat customers.

One other 12,000 brake horsepower anchor handling towing supply vessel was sold to Topaz Energy and Marine, an offshore supply vessel company, based in Dubai, Nam Cheong said.

Nam Cheong chief executive Leong Seng Keat said the company was delighted to start the year with the new orders.

“With these contracts, it brings our cumulative order book to a robust 1.7 billion ringgit, pointing to the credibility and soundness of our reputation as a shipbuilder amidst an outlook of uncertainties in the macro environment.”

“Internally, we remain committed to optimising our cost structure to weather the volatility in oil prices. With a continued glut in oil supply, we believe our proposition of being a partner to our customers by providing them with quality vessels driven by cost and fuel efficiencies is more important than ever,” he said.

The two vessels are of American Bureau of Shipping class and are being constructed as part of Nam Cheong’s built-to-stock series in the group’s subcontracted yards in China, the company said.

These vessels are scheduled for delivery in 2015 and 2016 and are expected to contribute positively to the Group’s earnings for the financial year ending 31 December, 2015 and 31 December, 2016, Nam Cheong said.