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Malaysia to Make History with Its First LNG-Powered Cargo Vessel — Three Local Companies Unite to Deliver Eco-Friendly Ship for the Oil & Gas Industry
Kuala Lumpur — Malaysia is set to witness the arrival of its very first LNG-powered cargo vessel, to be built through a landmark collaboration between three distinguished local companies — Synergy Marine (M) Sdn Bhd, MTCMS Design Sdn Bhd, and Shin Yang Shipping Corporation Bhd (through its subsidiary Shin Yang Shipyards Sdn Bhd) — at an estimated total cost of AS$45 million (RM188.75 million).
Synergy Marine Managing Director Datuk Roslan Ahmad announced that the vessel will be built using the latest technology, capable of utilising both diesel and LNG as fuel sources. The vessel will be constructed at Shin Yang Shipyard in Miri, Sarawak, commencing in January of next year, and is targeted for completion by December 2020. He added that the financing for the vessel's construction will utilise funds within Synergy Marine itself, supplemented by assistance from local banks.
The vessel will be built to comply with the requirements of the International Maritime Organization (IMO), which has set a global sulphur cap of 0.5 percent on bunker fuel effective 1 January 2020. Datuk Roslan explained that the use of LNG will significantly reduce the release of sulphur dioxide, nitrogen dioxide, carbon dioxide, and other particles — making the vessel not only more fuel-efficient, but also considerably more environmentally friendly, while fully meeting IMO requirements. "The use of LNG will reduce the release of sulphur, nitrogen dioxide, carbon dioxide and other particles that are not only fuel-saving, but also more environmentally friendly and meet the IMO requirements," he said.
Datuk Roslan made these remarks at the MoU signing ceremony between the three parties, held at the Hotel Mandarin Oriental nearby yesterday evening. Also present at the ceremony were the Managing Director and Chief Executive Officer of MTCMS, Abdul Razak Ismail, and the Chief Executive Officer of Shin Yang Shipyard, Ting Hien Liong.
According to Datuk Roslan, the vessel will be built directly by MTCMS before being handed over to Shin Yang for construction. He further noted that the vessel will also be offered to oil and gas operators from regional markets, reflecting the strong international interest and broad market demand for modern, environmentally compliant offshore support vessels — particularly from countries in West Asia that have already expressed early interest in the project.
The construction financing will draw on Synergy Marine's internal resources as well as support from local banking institutions, demonstrating a strong commitment to a fully Malaysian-funded and Malaysian-built pioneering green maritime project that is set to elevate the nation's standing in the global offshore marine industry.
Roslan (centre) photographed after the signing of the memorandum of understanding between MTCMS, Synergy Marine and Shin Yang Shipping in Kuala Lumpur yesterday. | Source: Kosmo! (Niaga), Thursday November 15, 2018. Article by Ikhwan Ideris.