Revenue growth was due to expanded fleet and improved daily charter rates.
Nam Cheong Limited, an offshore support vessel (OSV) provider based in Sarawak, Malaysia, has reported higher earnings for 1QFY2025 ended March 31, 2025, to RM31.1 million ($9.44 million), up 20% y-o-y.
The group reported a 5% y-o-y increase in revenue for 1QFY2025 to RM116.6 million, solely from the vessel chartering business. This is despite lower vessel utilisation during the period due to the preparation of vessels for longer-term charter.
