Nam Cheong Limited focused on its vessel chartering business for the period, achieving sequential revenue growth fuelled by new long-term contracts and increased vessel utilisation. Although profitability decreased year-on-year due to the absence of significant non-recurring gains from the prior year’s debt restructuring, the Group maintained a steady gross margin. Management remains cautiously optimistic, citing a tight Offshore Support Vessel (OSV) market and an ageing global fleet.
• Discover how the commencement of long-term charters drove sequential growth in core business activities
• Understand why overall period profitability was lower compared to the preceding year, despite steady margins
• Explore the positive market outlook, sustained by structural supply constraints and the ageing regional OSV fleet
