E.E. Technique's RM60m double-hull tanker the biggest to be built in Malaysia

Kuala Lumpur, E.A.Technique (M) Sdn Bhd, which has just received its RM60mil double-hull tanker, is poised to be a major shipping player in the country supported by the size of its current fleet and the number of tankers under construction.
The latest vessel, M.T. Nautica Maharani, is about 10,000 dead weight tonnes (dwt) and is the biggest double-hulled oil tanker ever built in Malaysia.
It is the final vessel of in a series of three where the first and second were delivered in May and July. Like the first two, Nautica Maharani will also be chartered by the national oil company come December.
The charter period for all these vessels are for 10 years with renewable period of another three years.
At present, E.A. Technique owns about 16 vessels with four under construction. It also owns a stake in shipping company Orkim Sdn Bhd.
E.A. Technique signed an agreement in May last year to acquire a 31% stake in Orkim on a staggered basis for RM17.14mil. Currently, Orkim has about nine vessels with another three under construction.
The major shareholder of E.A. Technique is Sindora Bhd with a 51% stake. Sindora also has about a 22% stake in Orkim.
Besides ships owning and chartering, E.A. Technique also has a shipbuilding subsidiary, Johor Shipyard & Engineering Sdn Bhd (JSE).
JSE has been awarded a contract by E.A. Technique to build four new harbour tugboats at the cost of about RM18mil each. JSE will build these vessels at its new 8.09ha site in Hutan Melintang, Perak. The cost of the shipyard is estimated at about RM30mil.
E.A. Technique managing director Datuk Abdul Hak Md Amin told StarBiz that the primary objective of the shipyard was to build and repair the company’s fleet as the cost of using third-party shipyard had escalated and had affected its ships’ long-term operations.
“We intend to recover our investment in the shipyard in less than 10 years. As for the four tugboats to be built by the shipyard, they will be chartered by the biggest oil port in the country for 10 years with the option to extend the contract for another three years,” he said.
Upon completion, the shipyard will be able to repair vessels measuring 130m long and of 12,000 dwt. It can build vessels of up to 10,000 dwt.

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