Nylex launches maiden ‘Nylex 1Malaysia’ tanker

The Nylex 1Malaysia, Nylex’s first purpose-built chemical tanker.
The Nylex 1Malaysia, Nylex’s first purpose-built chemical tanker.

KUALA LUMPUR, Nov 2 — Nylex (Malaysia) Bhd today commissioned its new Nylex 1Malaysia vessel, the company’s first purpose-built chemical tanker, months ahead of schedule.

Group managing director Datuk Siew Ka Wei told The Malay Mail that the introduction of the new ship was a positive development for the company.

“I am pleased that we succeeded in the launch. It will consolidate the company’s business.

“It puts the company on the right track in its plans for the transportation and delivery of our products,” he said.

Nylex has emerged as a dominant player in the chemicals, plastics and polymers business, with an annual turnover of more than RM1.5 billion and over 13 subsidiaries operating mainly in Malaysia, Singapore, Indonesia and Vietnam.

Nylex, a limited liability company incorporated and based in Malaysia, was listed on the Main Market of the Bursa Malaysia in 1990.

In April last year, Nylex said its wholly-owned subsidiary, ALB Marine Sdn Bhd (AMSB), entered into a contract with Grulla Oceano Inc, for the construction and purchase of a 6,800-DWT chemical tanker for ¥1.923 billion (approximately RM60 million).

Grulla is a wholly-owned subsidiary of Kakuyo Shoji Co Ltd Japan, which in turn is a subsidiary of Tsurumi Sunmarine, the biggest tanker operator for domestic trading in Japan and the operator of more than 200 vessels.

The delivery of the vessel had been expected to take place in the first half of 2017, but was delivered ahead of schedule this month.

The acquisition will enable Nylex to operate its own vessel and reduce its dependence on chartered ships as well as enhance its business growth, the company said in a filing with Bursa Malaysia in April 2015.

Other parties involved are Hakata Shipyard management and Kakuyo Shoji Co Ltd.

During the launch, Hakata Shipbuilding Co Ltd president Hiroyuki Kimoto said Kakuyo Shoji is now the most successful company in its line of business.

He extended his cordial thanks to those attending the launch of Nylex 1Malaysia, saying his company received great support from all parties, leading to the successful construction of the vessel.

Nylex head of logistics Bon Kok Meng said the firm looked forward to the successful operation of the new tanker.

“My gratitude to Hakata Shipyard management, Kimoto-San and the staff for the safe delivery of the vessel from the commencement  to the launching, till the completion and handover of Nylex 1,” Bon said.

For the three months ended August 31, the Nylex Group posted a revenue of RM273.2 million, or 15.4 per cent lower than RM322.8 million recorded in the same period during the previous financial year.

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