Malaysia to host world’s largest ship-to-ship transfer (STS) hub, develop by KA Petra, Hutchison Ports
PUTRAJAYA: Malaysia is set to host the world’s largest Ship-to-Ship (STS) transfer hub, which can accommodate the berthing of 30 vessels for the transfer of petroleum-based products and liquefied natural gas (LNG).The development of the STS Hub, which will be located off Johor Baru port waters, will see marine service provider KA Petra Sdn Bhd teaming up with world-renowned Hutchison Ports Holdings Ltd.
The project cost is estimated at US$150mil to US$180mil (RM612mil to RM735mil) and construction is expected to be completed by 2021.
KA Petra executive chairman Datuk Shahrul Amirul said the STS Hub would trigger a “resurgence of the Malaysian maritime sector” by becoming a catalyst to other related businesses in the industry.
“The STS Hub and activities in the related maritime ecosystem will create more job opportunities and generate an additional RM18bil to the Malaysian gross domestic product annually, which is about 1.5% of today’s GDP rate.
“The hub will also attract many highly skilled Malaysians abroad to return and provide skills and training to the next generation of professionals in the maritime industry,” Shahrul said in his speech at the official signing ceremony of the STS Hub project here yesterday.
Also present at the event were Prime Minister Tun Dr Mahathir Mohamad, Transport Minister Anthony Loke and Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.Dr Mahathir witnessed the signing between Shahrul and Hutchison Ports group managing director Eric Ip.
Under the terms of agreement, KA Petra will have 70% interest in the project while Hutchison Ports will have a strategic 30% stake.
Shahrul said KA Petra was proud to have Hutchison Ports as its strategic partner due to its presence in 51 ports in 26 countries, as well as its global network and strong relationships with shipping companies.
The STS Hub project will increase the current vessel capacity from nine to 30.
Strategically located along the crude oil route from the Middle East and Europe to the Far East, the hub will be able to house approximately nine million tonnes of petroleum products and LNG.
Refer from www.thestar.com.my
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