Consortium eyes green OSV construction in Malaysia

by | Aug 1, 2022 | Local News | 0 comments

28 Jul 2022by John Snyder

A memorandum of understanding (MoU) has been signed between three Malaysian shipbuilders and a Singapore company to develop and build the first green OSV in Malaysia

The MoU was announced at a signing ceremony 27 July, attended by Ministry of International Trade and Industry deputy secretary general, Dato’ Sri Norazman Ayob.

The consortium of companies includes Grade One Marine Shipyard, Muhibbah Marine Engineering and Shin Yang Shipyard – and Singapore company, Evolution Concepts. Collaboration between the partners was facilitated by the Association of Marine Industries of Malaysia (AMIM).

This MoU seeks to leverage the partners’ respective strengths, with the Malaysian shipyards providing their shipyard facilities and end-to-end vessel construction while Evolution Concepts designs the offshore support vessel (OSV), incorporating the green technology. Evolution Concepts brings together various high-tech maritime partners under its umbrella. These include HVAC specialist Sindex Refrigeration, specialised marine equipment and charterer Marine Commerce, IT specialist Blue Commerce and hybrid power specialist Gennal.

The project is expected to start in 2023 and cost about US$25M, with an 18- to 24-month design and build timeline for completion.

“As climate change and sustainability are rapidly shaping the world’s economic growth and trade, the Malaysian Government recognises the importance of the progressive concepts of green energy, energy conservation, environmental protection and sustainable development, as encapsulated in the environmental, social, and governance standards and the sustainable development goals advocated by UNESCO”, said deputy secretary general Ayob.

Taking a sustainability approach to OSV design would reaffirm Malaysian shipbuilders as global players, according to AMIM president Soo Jee Main. “Malaysia’s maritime and SBSR industry are recognised globally; we came fourth in the top five economies with the highest Liner Shipping Connectivity Index 2021 according to United Nation Conference of Trade and Development.”

Reference: https://www.rivieramm.com/news-content-hub/news-content-hub/consortium-eyes-green-osv-construction-in-malaysia-72189