Malaysia to see 1st LNG-powered vessel

SYNERGY Marine (M) Sdn Bhd has partnered MTCMS Design Sdn Bhd and Shin Yang Shipping Corp Bhd to conceptualise, design and build a vessel worth US$45 million (RM189 million). The vessel will be the country’s first liquefied natural gas (LNG)-powered ship and the first of its kind in South- East Asia once it is slated for completion in the fourth quarter of 2020. Synergy Marine MD Datuk Roslan Ahmad said MTCMS Design will focus solely on the design, while Shin Yang will be the builder of the vessel. “Synergy Marine will handle the financial side. At the moment, we will utilise internal funding for the initial stage before looking for financing from local banks,” he told reporters after the signing of a memorandum of understanding between the three companies in Kuala Lumpur recently. He added that the funds will cover research and development (R&D), design works and other elements needed to build the vessel. According to Roslan, the vessel will be used to cater to the oil and gas (O&G) sector as it complies with all industry regulations and also helps to reduce fuel consumption. “This vessel will see the O&G sector reap the benefits. With the adoption of green and high technology, it will save fuel consumption in the industry’s operation,” he said. Roslan also said various O&G companies have discussed on the charter of the vessel, and that he hopes to see interest from Middle Eastern countries. “We are players in the O&G sector… (we are going) to use our vessel as a logistic to supply cargo materials or chemicals to oil platforms. So, this vessel is built especially for that industry. It can’t be used for anything else,” he added. He said after a long economic slowdown and global price slump, the O&G sector has begun to restart their explorations and production campaigns worldwide. “This is a good sign as it shows that the maritime and shipping industries will grow again. This is why we have decided to collaborate with the other companies that have good track records in their fields of expertise,” Roslan said. Roslan said using an LNG fuel engine system will, among others, reduce the emissions of sulfur dioxide, nitrogen dioxide and carbon dioxide. This will help to keep the environment clean and safe; and at the same time, comply with International Maritime Organisation standards, he said. Meanwhile, MTCMS Design CEO Abdul Razak Ismail said the R&D into the vessel had begun last year. “We have started the R&D research a while ago when LNG fuel was not available back then. That was the key factor which started the project,” he said. The keel-laying ceremony will begin in January next year. The vessel, measuring 76.8m in length and 19m in breadth, will be equipped with a dual-fuel engine system and built in Miri, Sarawak.

https://themalaysianreserve.com/2018/11/19/malaysia-to-see-1st-lng-powered-vessel/