Nam Cheong struggling to find buyers for 26 built-to-stock vessels

These need to be sold within 18 months.

Nam Cheong is struggling to find buyers for 26 unsold built-to-stock (BTS) vessels, a report by DBS revealed.

DBS noted that Nam Cheong is still looking to sell eight (BTS) vessels from its 2015 shipbuilding programme, as well as 18 vessels from 2016.

Over half of these unsold ships are platform supply vessels (PSVs), which is the "most oversupplied" segment in the offshore support vessel space.

"In the current environment of muted vessel sales, Nam Cheong, due to the speculative nature of its built-to-stock model, may end up with some unsold vessels on its balance sheet," warned DBS.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!