Nam Cheong (SGX:1MZ) secured offshore support vessel charter contracts worth $47.5 million, according to a late Friday filing with the Singapore Exchange.
The contracts will cover three OSVs and will commence this year for up to two years.
Out of the three vessels, two will be chartered for environmental services in the Middle East, while one vessel will be chartered to an offshore wind farm contractor based in Japan.
Following the award, the company now has 24 vessels operating under long-term contracts.
Shares of the company were up over 5% in recent trading.
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