T7 partners with Mitsui E&S Shipbuilding

KUALA LUMPUR: T7 Global Bhd has teamed up with Mitsui E&S Shipbuilding Co Ltd to explore the supply of ships to Vietnam’s navy and coast guard.

The oil and gas (O&G) service provider said a memorandum of agreement (MOA) was signed between its unit T7 Marine Sdn Bhd and Mitsui E&S to collaborate on the supply prospect.

The MOA, effective from August 27 for three years, would provide opportunities for the parties to collaborate in the ship or vessel business in Vietnam, said T7.

Mitsui E&S is involved in the construction and engineering of state-of-the-art ships such as bulk carriers, tankers, LNG carriers, naval vessels and patrol boats.

Mitsui E&S is known to be the shipbuilder of naval vessels for the Japanese’s defence ministry and patrol vessels for the Japan Coast Guard.

T7 Global executive deputy chairman Tan Sri Tan Kean Soon said this was not its first collaboration with Mitsui E&S as they had been its partner for almost two years in Malaysia.

Tan said taking note of the demand of naval vessels and patrol vessels in this region, T7 Global was now working closely for the solid opportunity in the Vietnamese market.

“We would like to thank Mitsui E&S for believing in our strength not only in the Malaysian market but also for the market of this region,” he said.

Tan said while the group’s core business was still in the oil and gas services, T7 Global was known to be an expert in the marine business for the O&G industry in building and operating mobile offshore unit and support vessels.

“We are keen to grow our marine businesses, and this partnership will place the company on higher ground in the industry.

“This type of alliance is vital as we build new successful business models that leverage on our expertise to strengthen our position as one of the best service provider companies in Malaysia as it will allow us to expand and generate more revenues,” he added.

Source: NST