KUCHING: Sealink International Bhd (Sealink) will continue to manage its costs and increase efficiency in this recovery economic climate to improve its competitiveness and resilience, riding on its strong foundation in Miri.
According to Sealink International Bhd chief executive officer and managing director Yong Kiam Sam in its Annual Report 2019, the group will continue its emphasis on its core activities of ship building, ship charter and ship repair.
“Our shipyard is located in Kuala Baram, Miri and the workshop in Krokop, Miri. To date, our shipyard has constructed in total sixty 68 vessels (including fabrication of two work barges).
“Armed with technical knowhow and management capabilities, our group is able to offer a sophisticated array of vessels designed to meet our customers’ needs,” Yong said in its management discussion and analysis.
Sealink’s shipbuilding division will also continue its emphasis on ship repair. Apart from construction of OSVs, the group has diversified into the construction of harbor tugs and other non-oil and gas vessels.
“The group’s shipbuilding division will be looking towards building vessels which have a niche market as well as enhancing its docking (ship repair) facilities, whilst continuous efforts will be taken towards optimising capacity utilisation of the group’s vessels.
“The group is also looking at building new vessels that are more energy efficient and environment friendly, in line with tighter environmental regulations in the maritime industry.
“With the ongoing initiatives in sustainable cost rationalisation and exposures, we believe the group is well positioned to tide over the current business challenges.”
With the government lending stronger support to the maritime industry with the launch of the Malaysia Shipping Master plan, Yong said the country is set to become a self-sufficient and internationally competitive nation that can benefit us along the maritime industry supply chain.
The local oil and gas sector will get more push from the government this year amid rising exploration and production activities.
“While we remain vigilant on the market outlook, we will continue to capitalise on our capabilities and reputation in vessel chartering business,” Yong added. “Long term sustainability of the business has been our key priority.
“We will remain resilient in strengthening our core business and shall continue expanding strategically into new opportunities.
“As an integrated service provider, we have full discretion and control over the design specification, quality, cost and timely delivery of our vessels. It also provides us with the flexibility to either “build and sell” or “build and charter” our vessels.
“Our experienced maintenance team can respond promptly and attend to emergency repairs and where necessary, vessels can be arranged to be up slipped internally at our slipway in Kuala Baram for vessels within the vicinity. This reduces our dependence on other yards and provides our group with a distinct competitive advantage over the other players in the market.
“The group strives to intensify its efforts and commitment to deliver high value products and services with emphasis on safe operations and to maintain the group’s position as one of the leading integrated service providers in the offshore marine services segment.”