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September 7, 2008

DNV to class ten OSV's for Malaysian shipbuilder

Det Norske Veritas has signed a contract with Nam Cheong Dockyard Sdn Bhd in Malaysia to class 10 new offshore support vessels (OSV) and provide Certification of Materials and Components for them.

Valued at € 200 million (US$290 million), the Rolls-Royce UT755LN and UT755CD design vessels are due for completion by 2011. They will either be put into trade by the yard's own management company or sold on the spot market.

The agreement with DNV results from Nam Cheong's decision to partner a classification society that can ensure the OSVs will be fit and acceptable for any trade in any part of the world.

"Within the shipping industry in Southeast Asia, DNV sees a trend towards the high-end offshore market," says Knut Ording, Country Manager for DNV Maritime in Malaysia. "We also observe that companies in this region are keen to work with DNV for the added value we can provide, based on our vast experience in offshore markets such as the North Sea. In this regard, DNV is delighted to team up with Nam Cheong Dockyard, a quality shipbuilder with over 40 years of success."

"As a class society reputed for innovation and high work standards, DNV understands our requirements for the strictest reliability in all the vessels built by us," says Nam Cheong executive director Leong Seng Keat. :We are very confident that DNV can fulfil our expectations for the 10 OSVs to perform optimally in the toughest conditions."

Construction of the Nam Cheong OSVs will begin in the first quarter of 2009, with the completion due in mid-2011. DNV's classification of these newbuildings will include plan approval of design drawings and onsite follow-up. The Norwegian class society will also provide the Certification of Materials and Components to be installed onboard.

The project comprises two UT755LN vessels with Dynamic Positioning II (DP II) notation and eight UT755CD vessels with Dynamic Positioning I (DP I) notation. The UT755CD vessels will also have DNV's high environmental performance Clean Design notation and NAUT-OSV bridge design notation.

DNV's NAUT notations, in particular, have been proven to significantly reduce the risk of collisions and groundings by optimizing the design and layout of bridge equipment and the volume of information to be handled by bridge personnel during different operational situations.

Sustained growth in the market has led to a current OSV order book of over 600 vessels globally. More than 300 new OSVs have been contracted to DNV class over the past two years, half of which will also have the DNV Clean Design notation.

Nam Cheong Dockyard Sdn Bhd was incorporated in 1962 and is headquartered in Miri, East Malaysia. The leading OSV sipbuilder in Malaysia, Nam Cheong constructed the country's first DP II offshore support vessel in 2007 and is able to produce eight such vessels annually. The company's capacity is projected to increase over the next few years.


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