Nam Cheong, Malaysia’s largest Offshore Support Vessel (OSV) builder, said it posted a 33% fall in third-quarter net profit to RM31.55 million ($12.4 million) from RM46.79 million a year ago.
Third-quarter revenue fell 44% to RM141.94 million from RM251.52 million last year.
Nam Cheong said the revenue fall was mainly due to the timing of the percentage of revenue recognition on vessels sold,
Meanwhile, Nam Cheong also announced that it has sold four Anchor Handling Towing Supply (AHTS) vessels worth a total of US$45.13 million ($55.2 million), bringing the total number of vessels sold this year to 18, an all-time record high for annual vessel sales in the group’s corporate history.
Three of the vessels have been sold to two repeat customers. One of the three vessels, sold to a customer based in Norway, will be deployed to Brazil under a long-term charter contract with Petrobas, Brazil’s national oil corporation. Another repeat customer, a Singapore-based company that provides ship management and chartering services, purchased the other two vessels.
No comments:
Post a Comment