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Malaysia is bound to set a key milestone in the maritime industry as leading integrated ship management brand, Synergy Marine (M) Sdn Bhd recently unveiled its collaboration with Malaysian companies, MTCMS Design Sdn Bhd and Shin Yang Shipping Corporation Berhad (through their subsidiary Shin Yang Shipyards Sdn Bhd) to design, build and deliver Malaysia’s first LNG-Powered Vessel Shipbuilding - set to revolutionise the Malaysian maritime sector.

Not only is the vessel the first in Malaysia and across Asia, she will also be the first to be built on Malaysian shores. Synergy Marine has taken on the challenge to invest in doing research and development for the evolution in ship design to the most advanced and high technology in 3D, which include Digital Twin Technology for the new vessel, complete with virtual reality technology for maintenance, safety drills, and training purpose.

With this vessel, Synergy Marine intends to service various global Oil & Gas companies who will reap the benefits of this illustrious vessel that not only complies to IMO regulation, but with the adoption of Green and High Technology vessel in their Oil & Gas operations, this vessel will save the fuel consumption in any Oil & Gas operations.

Dato’ Roslan Ahmad, Managing Director of Synergy Marine said that using liquefied natural gas or LNG fuel engine system will greatly reduce the emissions of sulfur dioxide, nitrogen dioxide, carbon dioxide, and particulate matter - which will make the environment greener and, at the same time, still complies with international maritime organisation.

“With our vast experience in marine and offshore business and operations coupled with extensive knowledge, wide working network and strong capability, caring for the environment is one of our core values, and we are taking the proactive step to lead and pioneer the Green Technology in offshore support vessels sector,” said Dato’ Roslan.

“After a long economic recession and global oil prices slump since 2016, currently we can see most of the Oil & Gas companies restart their explorations and productions campaign globally. This is a good sign as it shows that the maritime and shipping industries will grow again. Thus following this observation, we take the next step in this journey to be the most preferred Offshore Support Vessels provider supporting the Oil & Gas exploration and production with high business ethics to meet our customers’ satisfaction.”

With this new vessel measured at a length of 76.8 meters, breadth 19 meters, a deck capacity of 600 square meters, equipped with dual fuel engine system that is LNG and diesel fuel, this collaboration proved to be a significant milestone between Synergy Marine, MTCMS Design Sdn Bhd and Shin Yang Shipping Corporation Berhad, with developments in both High Technology and Green Technology. The three highly-reputable companies had also signed a Memorandum of Understanding to combine their expertise in the development of Green Technology Vessel, witnessed by Tuan Hj. Ir. Ahmad Khairuddin Bin Ismail, Deputy Director General 2 (Operations) of Marine Department Malaysia.

“We are very proud to collaborate with both MTCMS Design and Shin Yang Shipping for our first LNG-powered vessel. For our new ship, the vessel propulsion system is designed using energy-saving engine, machinery and equipment for energy efficiency. Therefore, based on their expertise in ship design and using advanced Digital Twin Technology, we decided to engage MTMCS Design to be our ship designer, and to work with Shin Yang Shipping to build the vessel based on their expertise in shipbuilding of many Offshore Support Vessels (OSV) and their high capabilities and capacities in this area.

“With these track records strong in their profile combined with our robust historical activity in the shipping maritime sector, this pioneer agreement offers a major contribution to the development of a revolutionary LNG-powered vessel,” said Dato’ Roslan.

The schedule of keel laying will be in January 2019 and expecting to be completed by the fourth quarter of year 2020. After completion, this vessel would be available for contract charter from any Oil & Gas contractors and she will be used in particular for operations in the global market.

 

Credit news article from: http://www.focusmalaysia.my/Snippets/malaysia-s-first-lng-powered-vessel-shipbuilding 

 

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Three Malaysian companies have reportedly signed a memorandum of understanding (MoU) that would see the first LNG-powered ship built and operating in Malaysian waters by the end of 2020.

The contract for a dual-fuel platform support vessel (PSV) is estimated to be worth US$45M, according to multiple reports in Malaysian publications from an MoU signing ceremony between Synergy Marine ship operators, designers MCTMS and Shin Yang Shipyard.

In a speech at the event, Synergy Marine’s managing director Dato’ Roslan Ahmad reportedly said the move to build an LNG-fuelled vessel was driven by environmental concerns.

Mr Ahmad said the 77-m vessel matched the company’s core value of ‘caring for the environment’ while also meeting IMO’s global cap on sulphur in marine fuel.

With the company active in offshore oil and gas, Mr Ahmad cited the recent recovery of oil prices as a precursor to increased activity in the sector and said the move was intended to position the company as a preferred provider in offshore exploration because of its ‘high business ethics’.

The vessel’s keel laying will be in January 2019 and it is expected to be delivered in Q4 2020. Upon completion, the vessel will be open for charter on the global market, according to reports.

*Credit News article from https://www.lngworldshipping.com/news/view,malaysia-steps-into-lng-sector-with-shipbuilding-mou_55906.html

Shin Yang Shipping Corporation acquired another 2 units of container vessels - Danum 171 and Danum 172  in month July and August 2018 to expand container ship fleet services.

 

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Shin Yang Shipping Corporation Bhd acquired a 1600TEU Container Vessel - Danum 168 recently in month of December 2017 to enhance our shipping capabilities.

 

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KUALA LUMPUR: Northport (Malaysia) Bhd, Shin Yang Shipping Sdn Bhd and Harbour-Link Group Berhad have signed a memorandum of understanding (MoU) to firm a strategic alliance called The East Malaysia Network or TEAM Network.
 
MMC Corporation Bhd said in a statement the MoU was aimed at achieving economies of scale through the sharing of resources such as vessels, terminals arrangements and networks.

“It is also expected to increase shipping service frequency through a scheduled alignment between Shin Yang and Harbour-Link.

“With the consolidation of vessel capacity between the two lines, the pact will create greater economies of scale with the optimised deployment of vessels and a wider port coverage. 

"It will also result in a reduction of operating expenses as well as optimisation of capital expenditures for both shipping lines,” it added.

Northport chief executive officer Datuk Azman Shah Mohd Yusof said the strength of Northport, Shin Yang and Harbour-Link would be consolidated to jointly and effectively manage the shipping industry demands through strategic planning of resources.

“”Under the TEAM Network strategic alliance, Northport is expected to provide an efficient and effective port service and high terminal productivity. 

"The alliance is also expected to benefit significantly from the synergies derived from within the MMC Ports' group through its integrated logistics value proposition,” he added.

Northport, a subsidiary of MMC Port Holdings Bhd (a wholly-owned subsidiary of MMC Corp) is involved in managing, developing and operating container ports and terminals in Malaysia.  

Shin Yang Shipping is part of Shin Yang Group, a conglomerate based in Miri, Sarawak, which is involved in the domestic and international shipping, ship building, timber, property development, port to door logistics, haulage, warehouse, container depot, hotel, marine engineering, civil engineering and plantation.

Harbour-Link Group is a Bintulu, Sarawak-based conglomerate involved in integrated logistics, shipping and marine, engineering and construction, heavy lifting and haulage, and property development. - Bernama

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KUCHING: Shin Yang Shipping Corp Bhd (Syscorp) said overcapacity in the industry and weak demand will continue to pressure charter rates.

“The demand is not strong enough and everybody (shipping firms) is fighting for the cargo,” group financial controller Richard Ling told StarBiz when asked on the market outlook for the shipping industry.

It was reported that the Baltic Dry Index (BDI), which measures charter rates across dry bulk ship sizes and routes, recovered from its low of 290 points on Feb 2 to hit 429 points on March 31. The index further recovered to more than 500 points late last week but was still below 2015’s average of 718.

Syscorp, which operates a fleet of nearly 290 vessels, including those deployed in Middle East operations, transports mainly timber products to the Far East region. Last year, the group shipped some 580,000 cu m of timber products, which was down by 20% from 2014.

 
 

The group does not ship other dry bulk commodities like iron ore, coal or grains. Miri-based Syscorp’s key shipping business is in containerised cargo and crude palm oil (CPO).

Ling considers CPO shipments to be more profitable than dry bulk transportation. The group operates three CPO tankers, servicing the Malaysia, Indonesia and China routes.

On container shipping, he said the business was still tough going as freight rates had remained stagnant. Stiff competition for cargo has continued to put pressure on the rates.

A market leader in container transportation in Malaysia, Syscorp laid off three container vessels after ceasing the unprofitable regional operations more than a year ago, and shifted its focus to domestic routes. The group owns and operates a fleet of 14 container ships plying Sarawak, Sabah and Peninsular Malaysia ports and coastal towns.

For the financial year ended June 30, 2015 (FY15), Syscorp group transported 108,218 twenty-foot equivalent units or TEUs, which was a 13% increase from 95,456 TEUs in FY14.

Asked if the implementation of the Pan Borneo Highway project would benefit local shipping firms in terms of the shipment of road construction materials, Ling said this had yet to materialise as some of these materials were currently transported by road.

So far, four of the 13 work packages of the highway project have been awarded. The Sarawak portion of the project is estimated to cost RM16bil, of which a significant chunk is reported to be on the cost of road construction materials.

 

* Credit news article from:  http://www.thestar.com.my/business/business-news/2016/04/11/syscorp-expects-charter-rates-to-remain-under-pressure/