8 million to an Indonesian customer. The sale is part of the company's fleet reprofiling initiatives and is expected to contribute positively to its earnings for the financial year ending 2026.
The vessel delivery is scheduled to be concluded in Q1 2026, with net proceeds allocated for debt repayment and working capital needs. 19 billion in H1 2025.
Following the sale, Nam Cheong will manage a total of 36 OSVs with an average vessel age of nine years, providing the company with a long runway to generate recurring income from charter contracts. 75 billion by 2034.
This transaction demonstrates the demand for platform support vessels in Indonesia and highlights Nam Cheong's ability to adapt to changing market conditions. With its young fleet, Nam Cheong is well-positioned to capitalize on the growing offshore industry.
The sale of this vessel marks an important milestone for the company, demonstrating its commitment to fleet optimization and capital recycling.
This sale highlights the importance of adapting to changing market conditions and optimizing fleet composition to maximize earnings potential. By selling vessels that are no longer aligned with its business strategy, Nam Cheong demonstrates its ability to pivot and capitalize on emerging opportunities.
