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Synergy Marine (M) Sdn Bhd Invests US$45 Million to Build Its First Liquefied Natural Gas (LNG) Powered Platform Supply Vessel — The First of Its Kind in Malaysia and Across Asia
Kuala Lumpur, November 14 (Bernama) — Synergy Marine (M) Sdn Bhd is investing US$45 million to build its first liquefied natural gas (LNG) powered platform supply vessel, which will stand as the first of its kind not only in Malaysia but across the entire Asian region — marking a defining milestone for Malaysia's green maritime and offshore industry.
Synergy Marine is a licensed vendor under Petronas and specialises in rendering customised products as well as services to the oil and gas industry. The company has built a strong reputation as a trusted and capable marine service provider, serving a broad spectrum of oil and gas clients operating in both domestic and international waters.
Its Managing Director, Datuk Roslan Ahmad, confirmed that the financing for the project will be sourced from a combination of internal funding, local bank borrowings, as well as revenues from charters to interested oil and gas players. "We will be sourcing funds from local banks and also will be tendering jobs to secure revenue to fund the ship-building," he told reporters after the signing of a memorandum of understanding between the company and MTCMS Design Sdn Bhd and Shin Yang Shipping Corporation Bhd.
Under the collaboration, MTCMS will design the vessel while Shin Yang, through its subsidiary Shin Yang Shipyard Sdn Bhd, will build the vessel in Miri, Sarawak. Datuk Roslan further confirmed that the keel laying will be in January 2019 and the vessel is expected to be completed by the fourth quarter of 2020, after which it will be made available for charter on the global market to oil and gas contractors.
He added that the LNG fuel engine system would greatly reduce emissions of sulphur dioxide, nitrogen dioxide and carbon dioxide while at the same time complying with the International Maritime Organisation's (IMO) new regulation. The IMO will enforce a new 0.5 per cent global sulphur cap on fuel content from January 1, 2020 — significantly lower than the present 3.5 per cent limit — as part of the organisation's broader response to rising environmental concerns, contributed in part by harmful emissions from ships.
The LNG-powered vessel will be the first in Malaysia and across Asia. It will have a length of 76.8 metres, a breadth of 19 metres and a deck capacity of 600 square metres, and is equipped with a dual engine system comprising both LNG and diesel fuel — combining operational flexibility with environmental compliance to set a new benchmark for green offshore maritime solutions in the region.
Synergy Marine (M) Sdn Bhd signs a Memorandum of Understanding with MTCMS Design Sdn Bhd and Shin Yang Shipping Corporation Bhd for the construction of Malaysia and Asia's first LNG-powered platform supply vessel. | Source: Bernama, November 14, 2018.