Malaysia-based offshore marine group Nam Cheong has secured shipbuilding contracts worth $64.5m for four offshore support vessels from a UAE-based energy maritime logistics company.This marks the company’s first shipbuilding contract win in over a decade, as newbuild demand recovery gradually gains momentum.The contracts comprised two 60-metre dive support vessels (DSVs) and two 60-metre remotely operated landing crafts (ROLCs), expected to be delivered in the second half of 2027 and early 2028.The ROLC, the first-of-its-kind to be built in the world, is a vessel based on the remote-control system developed by SeaOwl Group and will be totally unmanned, remotely operated via satellite connection from a shore station. The vessel, equipped with built-in auto-docking capability, will be used for logistical purposes.All four OSVs will be fully constructed in-house at the company’s Miri Yard in Sarawak. Subject to the fulfilment of the conditions of the contracts, the contracts are expected to contribute positively to Nam Cheong’s earnings for the financial year ending 2026 to 2028.Upon delivery, these four newbuild vessels will be added to the customer’s fleet expansion and renewal programme, supporting its ongoing exploration and production activities.Leong Seng Keat, chief executive officer of Nam Cheong, believes that the new contract marks the beginning of the resurgence in demand for the company’s shipbuilding activities.Looking ahead, global oil majors appear optimistic, evidenced by their willingness to invest in new mega projects and huge acquisitions. This indicates their confidence that long-term crude oil prices will remain sufficiently elevated to justify substantial capital commitments in new fields, thereby enhancing demand visibility for newbuild OSVs, as the existing global fleet, averaging 15–16 years of age, approaches the replacement cycle.