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Synergy Marine, MTCMS Design and Shin Yang Shipyards Sign MoU to Build Asia's First LNG Dual Fuel Platform Support Vessel — Project Commences January 2019
Synergy Marine (M) Sdn Bhd has entered into a strategic joint venture with MTCMS Design Sdn Bhd and Shin Yang Shipyards Sdn Bhd to build a Platform Support Vessel (PSV) powered by a combination of Liquefied Natural Gas (LNG) and diesel — making it the first project of its kind in Asia, with the combined construction cost of the LNG and diesel-powered vessel estimated at RM188.75 million.
Executive Chairman of Synergy Marine, Datuk Roslan Ahmad, announced that the construction of this pioneering project will commence in January 2019 and is expected to be completed by December 2020. According to Datuk Roslan, Synergy Marine will invest significantly in the research and development of the vessel's design, leveraging three-dimensional (3D) technology, including advanced digital technology and Virtual Reality (VR) systems, for the purposes of maintenance, emergency training, and operational drills.
The vessel will measure 76.8 metres in length and feature a deck capacity of 600 square metres, purpose-built to offer world-class services to oil and gas companies operating in the global market. The LNG dual fuel engine system is firmly believed to deliver a substantial reduction in the emission of sulphur dioxide, nitrogen dioxide, and carbon dioxide — making this vessel significantly more environmentally friendly compared to conventionally fuelled vessels currently in operation.
Datuk Roslan emphasised these key points during his address at the Memorandum of Understanding (MoU) signing ceremony between Synergy Marine, MTCMS Design, and Shin Yang Shipyards, held in Kuala Lumpur. Also present at the ceremony were the Managing Director and Chief Executive Officer (CEO) of MTCMS Design, Abdul Razak Ismail, as well as the CEO of Shin Yang Shipyards, Captain Ting Hien Liong.
Speaking on the broader context of the reviving marine industry, Datuk Roslan touched on the positive impact of the recovery of oil prices since 2016, which has prompted many global oil and gas companies to recommence exploration and steadily increase production output. He remarked that this was a promising indicator that the marine and shipping industry would begin to recover and grow once again, making it the right moment to position Synergy Marine at the forefront of green maritime technology.
"At this point in time, we are building just one LNG-powered PSV. However, several companies in West Asia have already expressed interest in this project previously. Therefore, we are prepared to build another PSV should there be demand from those markets," Datuk Roslan stated confidently, signalling strong international interest in the venture and Synergy Marine's readiness to scale its green shipbuilding capabilities to meet that demand.
(Seated from left) Abdul Razak, Roslan and Hien Liong signing the MoU between Synergy Marine, MTCMS Design and Shin Yang Shipyards, in Kuala Lumpur. | Source: Berita Harian (NSTP), November 2018. Article by Azzman Abdul Jamal.