FBM in China talks to build fast ferries
FBM Marine International is in discussions with three Chinese shipyards to set up fast-ferry assembling operations on the mainland.
Group general manager John Warbey said: 'China is a large market and we have not discounted the possibility of assembling there in the medium term.' Shipyards from Guangzhou and Tianjin and one from outside Shanghai had approached FBM Marine, a subsidiary of the Hong Kong Parkview Group, to discuss the possibilities.
'For the time being we are discussing what type of boats they want to build and for whom,' he said.
The group, which builds up to 45-metre vessels, was looking at building bigger, 70-metre monohull vessels.
It was a trend worldwide for passenger vessels to get bigger and many countries were building 110-metre vessels, he said.
FBM Marine would build 30 70-metre vessels, carrying 100 to 800 passengers, for between US$1.5 million to $15 million.
Mr Warbey said FBM Marine was also seeking joint venture partners in Indonesia, Malaysia and Singapore to operate ferry services.
So far, one or two discussions were under way to establish the joint ventures, which would have a 50-50 equity stake, he said.
'It is very much in the planning stage,' he added.
The group had recently terminated its joint venture in Indonesia due to differences with its partner's business philosophy.
Regarding FBM Marine's $30 million joint venture with Aboitiz & Co to build fast ferries and other high-speed craft at a facility in the Philippines, Mr Warbey said phase one of the project would begin in November.
He said all parts of the vessels - such as aluminium, engines and air conditioning - would be imported from Britain for the time being because the Philippines could not supply them.
The materials have to be classed by Det Norske Veritas (DNV) and be of the right quality.
Mr Warbey agreed that it would be purely an assembly job in the Philippines initially, but hoped to source the materials locally or in Asia soon.
Fast ferries could not afford to be overweight because they would sacrifice speed, he said.
The group would be signing a 50-50 joint venture agreement with an American group with a shipyard in the United States to sell and market the vessels it produced, Mr Warbey said.
Together with the group's shipyard in Britain, the company would have three shipyards for building tailor-made vessels, he said.
