Malaysia is bound to set a key milestone in the maritime industry as leading integrated ship management brand, Synergy Marine (M) Sdn Bhd recently unveiled its collaboration with Malaysian companies, MTCMS Design Sdn Bhd and Shin Yang Shipping Corporation Berhad (through their subsidiary Shin Yang Shipyards Sdn Bhd) to design, build and deliver Malaysia’s first LNG-Powered Vessel Shipbuilding - set to revolutionise the Malaysian maritime sector.Not only is the vessel the first in Malaysia and across Asia, she will also be the first to be built on Malaysian shores. Synergy Marine has taken on the challenge to invest in doing research and development for the evolution in ship design to the most advanced and high technology in 3D, which include Digital Twin Technology for the new vessel, complete with virtual reality technology for maintenance, safety drills, and training purpose.With this vessel, Synergy Marine intends to service various global Oil & Gas companies who...

 Three Malaysian companies have reportedly signed a memorandum of understanding (MoU) that would see the first LNG-powered ship built and operating in Malaysian waters by the end of 2020.The contract for a dual-fuel platform support vessel (PSV) is estimated to be worth US$45M, according to multiple reports in Malaysian publications from an MoU signing ceremony between Synergy Marine ship operators, designers MCTMS and Shin Yang Shipyard.In a speech at the event, Synergy Marine’s managing director Dato’ Roslan Ahmad reportedly said the move to build an LNG-fuelled vessel was driven by environmental concerns.Mr Ahmad said the 77-m vessel matched the company’s core value of ‘caring for the environment’ while also meeting IMO’s global cap on sulphur in marine fuel.With the company active in offshore oil and gas, Mr Ahmad cited the recent recovery of oil prices as a precursor to increased activity in the sector and said the move was...

Shin Yang Shipping Corporation acquired another 2 units of container vessels - Danum 171 and Danum 172  in month July and August 2018 to expand container ship fleet services.    
Shin Yang Shipping Corporation Bhd acquired a 1600TEU Container Vessel - Danum 168 recently in month of December 2017 to enhance our shipping capabilities.  
 KUALA LUMPUR: Northport (Malaysia) Bhd, Shin Yang Shipping Sdn Bhd and Harbour-Link Group Berhad have signed a memorandum of understanding (MoU) to firm a strategic alliance called The East Malaysia Network or TEAM Network. MMC Corporation Bhd said in a statement the MoU was aimed at achieving economies of scale through the sharing of resources such as vessels, terminals arrangements and networks. “It is also expected to increase shipping service frequency through a scheduled alignment between Shin Yang and Harbour-Link. “With the consolidation of vessel capacity between the two lines, the pact will create greater economies of scale with the optimised deployment of vessels and a wider port coverage.  "It will also result in a reduction of operating expenses as well as optimisation of capital expenditures for both shipping lines,” it added. Northport chief executive officer Datuk Azman Shah Mohd Yusof said the strength of Northport...

KUCHING: Shin Yang Shipping Corp Bhd (Syscorp) said overcapacity in the industry and weak demand will continue to pressure charter rates.“The demand is not strong enough and everybody (shipping firms) is fighting for the cargo,” group financial controller Richard Ling told StarBiz when asked on the market outlook for the shipping industry.It was reported that the Baltic Dry Index (BDI), which measures charter rates across dry bulk ship sizes and routes, recovered from its low of 290 points on Feb 2 to hit 429 points on March 31. The index further recovered to more than 500 points late last week but was still below 2015’s average of 718.Syscorp, which operates a fleet of nearly 290 vessels, including those deployed in Middle East operations, transports mainly timber products to the Far East region. Last year, the group shipped some 580,000 cu m of timber products, which was down by 20% from 2014.  The group does not ship other dry bulk...