Rapid growth is expected in the habour tugs market in Malaysia over the next five years and based on projections from projects announced, there is an additional requirement for about 80 harbour tugs with bollard pull strength (bps) of up to 70 tonnes, Quick Action executive chairman Abdul Aziz Meor Ngah was quoted as saying.
This would be a significant upgrade from current harbour tugs which have bps ranging from 25 tonnes to 50 tonnes. With a price tag of MYR20m ($6.23m) per vessel, an investment of about MYR1.6bn will be required and could even go up to MYR3bn if projects in Sabah and Sarawak take off as well, he said.
Quick Action is the parent company of Malaysia Towage and Transport (MTT), which it acquired from Malaysia Shipyard ad Engineering, now known as Malaysia Marine and Heavy Engineering Holdings in 2006.