BINTULU: Deputy Secretary Sarawak (Economic Planning and Development), Dato Sri Dr. Muhammad Abdullah Zaidel witnessed the signing of a Joint Venture Agreement (JVA) between Hub Carrier Sdn Bhd (Subsidiary of Hubline Berhad) and Permodalan Satok Berhad (PSB), marking a significant milestone in strengthening Sarawak’s position within the petrochemical and maritime logistics sector.

The collaboration, through the establishment of PSB Hubline Sdn Bhd, reflects a strategic partnership aimed at undertaking the transportation of methanol and other chemical products, as well as providing comprehensive marine logistics services.

The joint venture will also explore future opportunities in green methanol offtake for marine bunkering, in line with the global sustainability trends.

PSB's Chairman, Tan Sri Datuk Amar (Dr.) Abdul Aziz Dato Husain, emphasised that this initiative would strengthen the local participation in maritime logistics, enhance supply chain resilience and reduce reliance on a single shipping service provider.

“It is a testament to Sarawak Government’s commitment in building a resilient and sustainable industrial ecosystem,” he said in his remarks.

In conjunction with the signing ceremony, Hubline also announced their ongoing collaboration with Zhoushan Ningshing Shipbuilding & Repairing Co Ltd China, a shipbuilding company, for the construction of dual-fuel chemical tankers powered by methanol, further reinforcing the industry’s transition towards cleaner energy solutions.

Representing Hubline was Group Executive President of Hubline Berhad, Dato Sri Richard Wee.

Also present were the members of the Board of Directors for PSB and the management team, which reflects a strong institutional support towards this strategic collaboration.

Sarawak Government welcomes such strategic partnerships that drive innovation, strengthen industrial linkages and accelerate the State’s economic transformation agenda. -UKASnews