MMHE Now Has LNG Drydocking And Refurbishment Capability
Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), a wholly-owned subsidiary of MISC Bhd, has successfully completed a post gas trial inspection and final docking works on a liquefied natural gas (LNG) tanker at its shipyard in Pasir Gudang. The success was the first to have been achieved by a Malaysian shipyard and was capped with the naming ceremony of the LNG tanker Seri Anggun at the shipyard, also another first in the country. The company said only a few shipyards in this region today have the capability to carry out LNG tanker drydocking and refurbishment, and that capability is now available in Malaysia. MMHE recently completed the fabrication of the hull and mooring system of the Truss Spar Deepwater Floating Production Platform for the Kikeh oil field offshore Sabah…
MISC Goes for Cost Efficiency
MISC Bhd expects shipping rates to be soft over the next two years and is focusing on improving cost efficiency, said company chairman Tan Sri Mohd Hassan Marican. He, however, does not see softer rates having a big influence on MISC’s earnings as many of the shipping company’s vessels are on long-term charters. Hassan said MISC would not exit the liner and logistics business, as it was not only important to the company but also to the shipping business in Malaysia. Hassan said the group’s debt to equity ratio had improved and the company had cash in excess of RM2.5bil, giving MISC the flexibility for expansion without burdening shareholders.
