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BUSINESS

Malaysia, Singapore collaborate to build first green OSV

27/07/2022 04:28 PM

KUALA LUMPUR, July 27 (Bernama) -- Malaysia and Singapore will collaborate to build the first green offshore supply vessel (OSV) locally, worth US$25 million (US$1= RM4.45).

The strategic partnership would involve three key local shipbuilding and ship repair (SBSR) players and an innovative green company from Singapore.

Association of Marine Industries of Malaysia (AMIM) president Soo Jee Main said the OSV project will commence in 2023 and is expected to be completed in 18-24 months.

“This collaboration is imperative as the whole world is moving towards integrating environmental, social and governance (ESG) considerations in all sectors, and the shipbuilding and ship repair (SBSR) industry is no exception.

“This would also attract more foreign investments as well as collaborations and hopefully, further create meaningful job opportunities for Malaysians in the maritime industry,” he said in his speech at the Strategic Partnership to Build the First Green Offshore Supply Vessel (OSV) in Malaysia event today.

The local SBSR players are Grade One Marine Shipyard Sdn Bhd, Muhibbah Marine Engineering Sdn Bhd and Shin Yang Shipyard Sdn Bhd, while the Singapore-based company is Evolution Concepts Pte Ltd.

Soo said the Malaysian companies would provide the shipyard facilities and end-to-end vessel construction while the Singapore company designs the vessel, incorporating green technology.

Evolution Concept managing director Kelvin Chong said the OSV would feature the Blue G Battery System which would minimise the usage of the generator sets.

“As the technology advances, there will be more sustainable solutions for the main generators to complement the battery system.

“The Blue G Battery System capacity will be calculated based on the vessel’s total power requirement and will be able to optimise based on the operational requirement,” he said, adding that the Blue G Battery System can be charged by the generator sets on board as well as any sustainable solutions from the shore.

Besides, he said, with this technology, the vessel would prove to be fuel-saving and able to reduce carbon footprint, vessel operating expenses (OPEX) and life cycle cost.

Meanwhile, Ministry of International Trade and Industry (MITI) deputy secretary general (Industry) Datuk Seri Norazman Ayob in his speech said the project would significantly transform the shipping industry worldwide consistent with the global standard.

“MITI has formulated a new National Investment Policy Framework anchored in ESG that would drive efforts by investment promotion agencies to encourage, attract, retain and sustain ESG-compliant investments, both domestic and foreign.

“Action plans are drawn to mainstream the adoption of ESG in industries in line with our nation’s aim to be net zero carbon in 2050 at the earliest,” he said, adding that Malaysia has built more than 100 OSVs until 2021 and presently around 420 OSVs are operating in Malaysian waters.

At the event, the memorandum of understanding (MoU) was signed by Kelvin Chong, Grade One Marine Shipyard chief executive officer Datuk Che Mansor Md Rejab, Shin Yang Shipyard chief executive officer Captain Ting Hien Liong and Muhibbah Marine Engineering business development manager Ng Soon Guan.

-- BERNAMA

 

 


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