Japan’s Mitsui Engineering & Shipbuilding Co. Ltd and the maritime division of T7 Global Berhad, an investment holding group based in Malaysia, have entered an agreement to co-operate on building ships for the Vietnam People’s Navy (VPN) and Vietnam Coast Guard (VCG). In a statement to Bursa Malaysia on Tuesday, its unit T7 Marine Sdn Bhd had on Aug 27 signed an MoU with Mitsui E&S Shipbuilding to work together and also explore business opportunities to supply supply of ships to Vietnam. T7 Global said the agreement would be for three years with an option to renew for another one year.
T7 Global said the memorandum of agreement (MOA), effective from Aug 27 for three years, will also provide opportunities for the parties to collaborate in the ship or vessel business in Vietnam. And both parties are optimistic that the collaboration will allow them to leverage on their respective strengths and competence. T7 Global’s core business is still in the Oil and Gas services. The company is also known to be an expert in the marine business for the O&G industry in building and operating mobile offshore units and support vessels. T7 Global 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.
Mitsui Engineering & Shipbuilding (Mitsui Zōsen) is a Japanese company. Established in 1917 as the Shipbuilding Division of Mitsui & Co. with the first shipyard at Tamano. In 1937 the shipyards became a separate entity of Mitsui, Tama Shipyard.Combined, Mitsui E&S and Tsuneishi would be Japan’s third-largest shipbuilding group by volume of commercial-vessel construction. Along with Abukuma class destroyer escort, Mitsui was contracted to build the Abukuma class destroyer escorts for the Japanese Maritime Self-Defense Force. Along with Abukuma class destroyer escort, Mitsui was contracted to build the Abukuma class destroyer escorts for the Japanese Maritime Self-Defense Force.