Exports of Malaysian vessels booming

Exports of ships, boats (including hovercrafts) and floating structures in 2005 (January-November) recorded an increase of 66% to $565 million compared with the corresponding period in 2004. During the same period, the government approved five new shipyard projects with investments totalling $26 million. All of these projects were Malaysian-owned and located in Sabah and Sarawak.

Of the five projects approved, one major project, with investments of RM70.1 million, proposed to undertake shipbuilding and ship repairing activities and the manufacture of metal fabricated products, mainly for the oil and gas industry.

Currently, there are six large shipyards involved in shipbuilding, ship repairing and metal fabrication activities. These are Malaysia Marine and Heavy Engineering (formerly known as Malaysia Shipyard and Engineering), PSC-Naval Dockyard, Sabah Shipyard, Ramunia Shipyard, Sasacom and Muhibbah Marine Engineering.

The shipbuilding and ship repairing industry in Malaysia is fragmented, with the majority of companies being small-sized shipyards.