SINGAPORE: Nam Cheong Limited, one of Malaysia’s largest Offshore Support Vessel (OSV) providers, has been awarded the Fastest Growing Offshore Support Vessel (OSV) Company by the International Finance Awards 2019, which is organised annually by the U.K.-based International Finance magazine.
The Fastest Growing OSV Company award falls under the transportation category, which recognises the most innovative and profitable ventures in the business of transport across air, land and sea. To show its growth, the Group submitted its revenue, as well as fleet and crew size for the period between 1Q2017 and 1Q2019.
During the period, the Group’s fleet grew from 16 vessels in 1Q2017 to 32 vessels in 1Q2019.
Commenting on the Group’s latest achievement, Leong Seng Keat, Chief Executive Officer of Nam Cheong said, “We are honoured to have our rebuilding trajectory over the past two years recognised by an esteemed international finance publication. The past two years have seen us deleverage through our restructuring scheme and enlarge our chartering unit as we steered our path towards an eventual recovery. In our next chapter of growth, we will continue to eye business opportunities in the offshore marine industry as we remain steadfast in our commitment to deliver quality service.”