To diversity our business, we started our vessel chartering operations in 2007 and this segment has seen high profit margins since. These operations are carried out through our subsidiaries, S.K. Marine Sdn. Bhd. and Nam Cheong Marine Pte. Ltd.
We currently have a fleet of 10 vessels, comprising seven SSVs, one AHTS and two landing crafts, which are chartered out by way of bareboat or time charters.
Under the bareboat charter contract, the charterer is responsible for operating and maintaining the vessel and for all expenses, including the costs of maintaining its own crew on board the vessels. Since the beginning of 2009, we have entered into time charter contracts with various charterers, where we provide officers and marine crew who would operate and manage the vessel for the length of the time charter contract.
Ship chartering contributes less than 10 percent to our revenue, but we plan to expand in this area for the recurring income stream, and mitigate the cyclicality and project-based nature of the shipbuilding industry.
Although we currently operate mainly in Malaysia, we may deploy our vessels for chartering anywhere in the world depending on the needs of our customers and demand in other geographical area.| No | Vessel Name | Type of Vessel |
|---|---|---|
| 1 | SKL 3 | Safety & Standby Vessel |
| 2 | SKL 4 | Safety & Standby Vessel |
| 3 | SKL 9 | Safety & Standby Vessel |
| 4 | SKL 10 | Safety & Standby Vessel |
| 5 | SKL 11 | Landing Craft |
| 6 | SKL 12 | Landing Craft |
| 7 | SKL 800 | Safety & Standby Vessel |
| 8 | SKL 801 | Safety & Standby Vessel |
| 9 | SKL 802 | Safety & Standby Vessel |
| 10 | Topaz Shaheen | Anchor Handling Towing Supply Vessel |