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Muhibbah Marine Engineering Sdn Bhd News

19 Oct 2006

Malaysian Shipyards Play Catch-up

Thanks to a booming global shipping industry, Malaysian shipyards are working overtime, mostly to meet backlog orders that could stretch well into 2008. The biggest player, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), has a backlog orders, which will keep it busy until the middle of 2008. Then there's mid-size Muhibbah Marine Engineering Sdn Bhd, with an order book of RM130 million that will last until early 2008. But a look at today's marine construction order book reveals that Malaysian shipbuilders have not managed to keep up with the other major regional players. According to Muhibbah Marine shipyard general manager Ooi Kien Chuan, Singapore has had a head start over Malaysia as far as shipbuilding and marine engineering market share is concerned.

24 Jul 2006

Muhibbah Marine to Secure More Contracts

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.