Sealink expanding shipyard

Shipbuilder and charterer, Sealink International Bhd in Malaysia has allocated RM50 million ($14.5 million) as capital expenditure to expand its shipyard at Kuala Baram in Miri. The company owns another shipyard located in Krokop/Piasau also in Miri. Both shipyards can build up to 15 vessels a year and the company plans to expand the 20-acre Kuala Baram shipyard over the next three years.

“The RM50 million is the total cost for infrastructure and building,” said its chief executive officer/deputy managing director, Yong Kiam Sam. Currently, the shipbuilding division contributes about 65% of its revenue and chartering 35%.