KUALA LUMPUR (Aug 24): Icon Offshore Bhd is collaborating with Sime Darby Industrial Sdn Bhd (SDISB) for a pilot project to install a CAT Remote Fleet Vision (RFV) on one of Icon's vessels, which could help in reducing operating costs for the offshore support vessel (OSV) operator.

The pilot project will see the installation of the system aboard the Icon Zara for a pilot period of six months effective Sept 1, 2020, during which SDISB will undertake all the costs of installation.

After the initial six-month period, Icon will have the option to lease the RFV from SDISB for 30 months. If Icon chooses not to adopt the system after the pilot period, the system will be removed from the vessel at no cost to the vessel operator.

SDISB managing director CK Teoh said Icon will be the first in Asia to pilot this technology.

"With RFV, Icon can easily track and manage their assets. Data will be collected from their hardware and that information can be served up via a convenient web interface," he said during a press conference today.

He said the system helps the dealer of the parts — SDISB — to prepare better in terms of preparing the required labour or parts for the particular vessel and will allow the assets to replace and get back into operation at a much quicker pace, which should translate to cost savings for the vessel operator.

According to Icon managing director Datuk Seri Hadian Hashim, currently Icon's vessels are evaluated on a quarterly basis.

"Basically, we will be provided with the same data points and information as we already have but on a more continuous basis, which allows us to know what needs to be done on a more timely basis," he said.

Meanwhile, he said he cannot give an estimate on the cost savings to be derived from the implementation of the new system and said that the group will only find out after the first six months.

"We will have a better idea after the trial period. We will assess the data and see whether this is something that the OSV providers need," said Hadian.

However, he said usage of the system will give a sense of certainty over the costs involved in maintaining Icon's vessels as well as the security and availability of the required parts when needed.

If the pilot test is successful, SDISB — a subsidiary of Sime Darby Bhd — hopes to provide the system to the rest of Icon's fleet. Icon currently has 24 vessels in its fleet, of which 19 are able to take advantage of RFV.

"This system can be replicated in the other vessels which use CAT engines. It has already been implemented across the globe and CAT will be the first in Asia.

"We believe it will be a successful pilot and we hope to expand the system to other vessels in the fleet and reach out to other players as well," said Teoh.

At 12.30pm, Icon fell 0.5 sen or 4% to 12 sen, giving a market capitalisation of RM319.73 million.

Sime Darby was unchanged at RM2.15, with a market capitalisation of RM14.6 billion.

Edited by Lam Jian Wyn