RMS Synergy in JV with Vietnam OSV service firm

PETALING JAYA: RMS Synergy Sdn Bhd has entered into a joint venture (JV) with Vietnam-based offshore support vessel (OSV) service provider Hai Duong Petroleum and Marine Corporation (Haduco) to form Haduco RMS Sdn Bhd, driven by the increased demand for OSV by O&G operators in Malaysia.

Both parties entered into a shareholders’ agreement under the wholly owned Haduco RMS Sdn Bhd, whereby RMS Synergy, an oil and gas (O&G) offshore marine service provider will be the majority stakeholder with 51% stake while the remainder will be held by Haduco.

Through the JV, RMS Synergy has secured a long term charter of a 60-tonne bollard pull Anchor Handling Tug Supply (AHTS) vessel and will work closely with Haduco to capitalise on the growing demand for OSV by the O&G operators in Malaysia with the sector remaining robust, based on the Petronas Activity Outlook 2023-2025.

RMS Synergy CEO Mohamad Asraf Abdul Ghafur said that the combination of expertise and resources will enable the company to provide its customers with the highest level of service and support for its offshore operations.

“The JV represents a step forward for both companies, in which it looks forward to working together to achieve its shared goals of expanding our operations and presence in Malaysia,” he added.

“With this collaborative partnership, RMS Synergy – as vessel owner and operator – is set to expand our OSV business and offer better marine support services to our clients, while contributing to the country’s maritime industry economy,” said Mohamad Asraf during the signing ceremony between RMS Synergy and Haduco today.

During the press conference, he said that for the present moment, the JV will entail just one vessel but added that the company “plans to add on another five” vessels by this year-end or end of next year.

He said the company has no plans “at the moment” to expand outside the country other than to focus on its business in Malaysia due to the current vessel shortage in the country, which it hopes to fill.

Meanwhile, Haduco president and CEO Tran Quang Hung said the company is currently seeing record high activity in the Malaysia market and vessel owners can expect greater demand for their assets.

“This joint-venture represents an important step for us in terms of securing long term business in Malaysia even as we strengthen both countries relationship,” he added.