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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Contracts

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1415 sec (7 req/sec)