Penang yard to build chemical tankers

Penang Shipbuilding and Construction Sdn Bhd (PSC), a wholly-owned subsidiary of the PSC Industries Bhd (PSCI) in Malaysia, has secured a contract to build three chemical tankers valued at $42 million for Gagasan Carriers Sdn Bhd. Deliveries are scheduled for October 2008, January 2009 and March 2009.

Bumiputera-owned Gagasan owns and operates oil and chemical tankers for numerous oil companies and traders plying the Gulf States and Asia Pacific routes.

PSCI?s associate firm, Boustead Naval Dockyard Sdn Bhd, has entered into a memorandum of understanding (MoU) with Turkey-based Yonca-Onuk Ortakligi to build and market vessels for the Turkish entity. This MoU between Boustead Naval Dockyard and Yonca-Onuk signals the commitment of both parties for the transfer of technology and a synergistic partnership to build and market vessels in the Malaysian region.

The Turkish firm uses composite technology in pleasure, commercial and naval crafts.