Muhibbah Marine to Secure More Contracts

Monday, July 24, 2006
Muhibbah Marine Engineering Sdn Bhd, is expected to secure five new shipbuilding contracts valued more than $27m over the next 12 months, driven by strong demand from the offshore oil and gas sector. According to Business Times- Malaysia, Muhibbah Marine expects more orders from local and international shipping firms as shipbuilding capacity has become tighter globally and there is active demand for support vessels for oil and gas exploration. Muhibbah Marine is actively participating in exhibitions in the Middle East where the market demand for OSVs, meant for servicing the oil and gas industry, is on the rise. Demand for OSVs will continue to increase worldwide at least for the next three years with an ageing world fleet and improvement in offshore oil and gas exploration and production. Muhibbah Marine is taking advantage of the International Maritime Organization's requirement for single-hull vessels to be replaced with double-hull (or double-skinned) vessels, which has created a huge demand for new shipbuilding plans. The shipbuilder also expects to benefit from Petroliam Nasional Bhd's efforts to encourage more local shipowners to build their vessels locally. The shipbuilding firm is working on about $38m worth of contracts to construct and commission two 60-km straight supply vessels for Tanjung Offshore and a client from Brunei. The rest have been delivered within schedule. To support its projected growth in new shipbuilding orders, especially for OSVs, Muhibbah Marine plans to expand its shipyard, strategically located in Teluk Gong, Port Klang, which has 650m of water frontage with a water depth of up to 18 m. It currently operates a shipyard on an eight-hectare site, which is capable of contracting up to seven vessels measuring 120m in length at any one time. With the expansion, Muhibbah Marine will be able to construct 9,000- to 10,000-ton vessels measuring up to 160m in length to meet the growing demand. (Source: Business Times- Malaysia)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

OOCL Tops the Chart in Reliability

According to the latest Carrier Performance Insight, produced by Drewry Supply Chain Advisors,  the most reliable carrier in May was Orient Overseas Container Line (OOCL),

Senate Confirms Three to Serve on Federal Maritime Commission

The U.S. Senate has confirmed the nominations of three individuals to serve as Federal Maritime Commissioners: Rebecca F. Dye, Michael A. Khouri and Daniel B. Maffei.

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

Contracts

Diana Shipping Contract for m/v Oceanis With Nidera

Diana Shipping Inc.  has announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Nidera S.P.A., Roma, for one of its Panamax dry bulk vessels,

Norsafe Secures Contract with VARD Group

Norsafe informs it has signed a new contract with VARD Group, and will supply lifeboats complete with davit systems to a series of 15 new vessels.    Topaz Energy

IOMAXIS Awarded $245 Mln Contract to Support NRL

Contract will allow IOMAXIS to provide research, development and technical support to initiatives at the Naval Research Lab   IOMAXIS, provider of technologies

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0921 sec (11 req/sec)