Nam Cheong plans to use net proceeds from the sale to reduce debt and for working capital.
Nam Cheong has sold a vessel to an Indonesian customer for US$19.8 million, as part of its "fleet reprofiling" moves.
The company says that the sale of this 11-year-old, 3,000 deadweight tonne platform support vessel, to be completed within this quarter, will contribute positively to its current FY2026 earnings.
