For starters, RMS has secured a long-term charter of a 60-tonne bollard pull anchor handling tug supply vessel. The two parties have set up a JV company, Haduco RMS Sdn Bhd, with RMS holding a 51% stake and Haduco the balance.
RMS is working with Haduco to capitalise on the growing demand for offshore support vessels by oil and gas operators in the country, citing Petronas’ activity outlook for 2023-2025.
RMS said Petronas has indicated it will require 204 vessels to support drilling and projects, and 147 vessels to support production operations in 2023.
The national oil and gas company forecasted a total of 333 and 329 vessels will be needed for 2024 and 2025, respectively.
RMS CEO Mohamad Asraf Abdul Ghafur said the combination of both their expertise and resources enables them to provide customers with the highest level of service and support for their offshore operations.
“This JV represents a step forward for both companies, and we look forward to working together to achieve our shared goals of expanding our operations and presence in Malaysia,” Asraf said at the signing ceremony today.
Haduco CEO Tran Quang Hung said that RMS has been its strategic partner for many years and was pleased to further strengthen their relationship through the partnership.
“As we are currently seeing record high activity in the Malaysian market, vessel owners can expect greater demand for their assets,” Tran said.
“This JV represents an important step for us in terms of securing long- term business in Malaysia as we strengthen the relationship between both countries,” Tran added.
Established in 2000, Haduco owns a fleet of 42 vessels operating on a global scale including in Malaysia, Myanmar, Thailand, Russia, India and Japan.
The Vietnamese offshore support vessel service provider has been aggressively expanding its fleet which has doubled since 2018 despite global slowdown due to low crude oil prices, and the Covid-19 pandemic.
With the upturn of crude oil prices in 2022 and global recovery, Haduco plans to continue acquiring vessels in the near future.
RMS, an entirely bumiputera-owned company, was incorporated in 2011 with the goal to be the leading O&G offshore marine support service provider. Its core business is vessel chartering.
It previously owned two vessels but had sold it off due to the age of the vessels, hence its collaboration with Haduco is timely.
RMS chalked up revenue of RM70 million in 2022.