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Malaysia-listed Straits Inter Logistics post 83% on year jump in Q3 net profit

‘Pick up in the oil and gas industry continued to contribute positively in demand for the bunkering business.’

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Malaysia-listed Straits Inter Logistics Berhad (Straits), the parent of Tumpuan Megah Development Sdn Bhd (Tumpuan Megah), posted an 83.4% jump in its third quarter (Q3) 2019 net profit due to a “pick up in the oil and gas industry”, it said.

Straits recorded net profit of RM 1.86 million in Q3 2019, compared to net profit of RM 1.01 million during Q3 2019, showed its latest financial statement.

Its overall revenue increased to RM 225.7 million in Q3 2019, from RM 69.4 million in Q3 2018.

Specifically, segment revenue from the company’s oil trading and bunkering services was RM 224.8 million in Q3 2019, representing a 224% rise from revenue of RM 69.4 million in Q3 2018.

Profit before tax for the similar segment was RM 3.6 million in Q3 2019, versus RM 2.6 million in Q3 2018.

“The pick up in the oil and gas industry continued to contribute positively in demand for the bunkering business,” it attributed.

“As the Group’s strategy to continue building a sustainable revenue stream consisting of oil bunkering and trading in oil products takes place, it had more than tripled its revenue for the third quarter of 2019 by RM 156.30 million to RM 225.69 million, from RM 69.39 million achieved in the third quarter of 2018,” said Straits in a review of its Q3 performance.

“The substantial increase in revenue is mainly due to the consolidation of the results of Tumpuan Megah Development Sdn Bhd (Tumpuan Megah).

“The Group recorded a profit before tax of RM 2.91 million in the third quarter of 2019 as compared to RM 1.28 million in third quarter of 2018. The 127.3% jump in profit before tax for the third quarter of 2019 as compared to the third quarter of 2018 was due to revenue improvement which increased by 225.3%, mainly contributed by the Group’s expansion of its product line to include the bunkering of Marine Fuel Oil (MFO).”

Tumpuan Megah, on 26 June entered into a provision of bunkering services agreement with Bintulu Port Sdn Bhd, enlarging its bunkering business in East Malaysia by establishing a new bunkering base within the port limits of Bintulu.

On 1 October, Tumpuan Megah, had entered into a second provision of bunkering services agreement with Lumut Maritime Terminal Sdn Bhd to establish a base in bunkering business in Lumut, known as “PIT-STOP BUNKER HUB @ LUMUT”, subsequently further expanding its bunkering business and operation into the West Coast of Peninsular Malaysia.

SMF Ixora Ltd, a wholly-owned subsidiary of Straits Marine Fuels & Energy Sdn Bhd, entered a Memorandum of Agreement to acquire its second vessel on 12 September, namely M.T. Poseidon, for a purchase consideration of USD 4.84 million. M.T. Poseidon is now the largest unit in the Groups’ fleet of vessels and has since been renamed M.T. Ixora.

Related: Tumpuan Megah Development conducts first Lumut bunkering operations
Related: Tumpuan Megah Development deploys “Escolar” to support Lumut bunkering operations
RelatedTumpuan Megah Development secures exclusive bunkering arrangement with Lumut port
RelatedStraits Inter Logistics Q2 2019 net profit up on bunkering developments
RelatedTumpuan Megah Development enters into bunkering agreement with Bintulu Port
RelatedStraits Inter Logistics post 114% jump in Q1 2019 net profit
RelatedMaybank IB Research: ‘Buy’ for bunker firm Straits Inter Logistics
RelatedStraits Inter Logistics incorporates new Singapore-based subsidiary
RelatedStraits Inter Logistics and Elsa Energy explore collaboration
RelatedStraits Marine Fuels & Energy to start bunkering ops at Johor
RelatedStraits Marine Fuels & Energy to welcome ‘identified parties’ as partner
RelatedStraits Inter Logistics makes land logistics expansion
RelatedStraits Inter Logistics meeting approves Banle Energy acquisition
RelatedStraits Marine Fuels & Energy acquires two bunker tankers
RelatedStraits Inter Logistics ends 2018 with 61% profit increase

Photo credit: Straits Inter Logistics
Published: 25 November, 2019
 

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Business

IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Döhmen will lead the new Singapore office, with responsibility for managing and developing the operation and strengthening relationships with customers and partners.

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IBT Bunkering & Trading appoints Kevin Döhmen to lead Singapore expansion

Hamburg-based marine fuels firm IBT Bunkering & Trading on Wednesday (12 August) said it has appointed Kevin Döhmen as Executive Vice President to lead the company’s new Singapore office. 

Manifold Times previously reported the company announcing that it is opening its doors in Singapore and will be running a trading desk in the city-state after trading bunkers out of Hamburg since 1976.

The company said Kevin Döhmen will lead the new Singapore office, with theresponsibility for managing and developing the operation and strengthening relationships with customers and partners.

IBT said the Singapore office represents an important first step in strengthening its presence in Asia.

“At the same time, we are actively exploring further opportunities to expand our activities and establish new partnerships in this key maritime hub,” the company said. 

Döhmen said: “Singapore is the heartbeat of global bunkering. Bringing IBT’s Hamburg roots — 50 years of them — onto the ground in this hub is a real privilege, and I couldn’t be more ready for it.”

IBT said it will maintain the service approach established through its Hamburg operations while building its activities in Singapore.

The company described the move as bringing together its Hamburg roots and Singapore presence through a global bunker network. 

Related: German firm IBT Bunkering & Trading establishes Singapore presence, adds second trading desk

 

Photo credit: IBT Bunkering & Trading
Published: 13 August, 2026

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Bunker Alerts

Low flashpoint found in Indonesia bunker fuels, alerts Maritec-Naias

Firm tested eight bunker samples representing LSMDO and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated flashpoints as low as 39.5°C.

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RESIZED Shaah Shahidh on Unsplash

Bunker fuel testing and marine surveying business Maritec-Naias on Wednesday (12 August) issued an alert regarding bunker samples from vessels that took fuel oil/bunkered in Indonesia showing flashpoints as low as 39.5°C:

During the period of 21 July to 04 August 2026, Maritec-Naias tested eight bunker samples representing Low Sulfur Marine Distillate Oil (LSMDO) and B40 fuel grade from vessels that took fuel oil /bunkered in Indonesia ports, which indicated Flashpoints as low as 39.5°C.

All eight fuel samples tested were sourced from a single supplier.

Regulatory Implications:

Based on the results of the eight samples tested, the fuels do not comply with the minimum flashpoint requirement of 60 °C set by SOLAS and ISO 8217.

As per SOLAS requirements, the minimum flashpoint of any fuel carried in the tanks of a ship should be not less than 60 °C (with exception of fuel for lifeboats, which can be grade DMX with a flash point min of 43 °C).

ISO 4259 interpretation for tested flashpoint temperature is not taken into consideration here as the safety of onboard crew and vessel is of higher precedence.

Since 01 May 2024, it has been a MARPOL Annex VI requirement that the Bunker Delivery Note (BDN) includes either the actual flashpoint of a fuel as supplied or a declaration that its flashpoint has been determined as being at or above 70°C.

From 1 January 2026, SOLAS amendments clarified that the flashpoint requirement applies to fuels, which were specifically intended to have a flashpoint not less than 60°C as required under SOLAS II‑2/2.1.1 These amendments now align with MARPOL by requiring flashpoint details to be recorded on the BDN. Additionally, prior to bunkering, suppliers must provide the ship’s representative with a signed declaration confirming that the fuel meets the SOLAS flashpoint standard.

MARITEC-NAIAS RECOMMENDATIONS

When ordering fuels from Indonesia it is advised to insist on getting the actual flash point values from the supplier. If your vessel has bunkered a low flashpoint fuel it is prudent to observe/implement the precautions below:

  • Flame screens on tank vents should be maintained in good condition and there should be no sources of ignition in the vicinity of the vents. This will assist in safe natural ventilation of volatile components in the fuel.
  • No Smoking, no naked flame and no hot work must be allowed at any areas near to tank air vents.
  • Send additional tank(s) samples upon arrival in port to check the fuel properties and flash point results especially if there has been co-mingling of fuels in bunker tanks
  • If the vessel is out at sea, it may be possible to obtain dispensation from your Flag State Administration up to the next arrival port.
  • Put the supplier on notice promptly and notify your P&I club.

 

Photo credit: Shaah Shahidh on Unsplash
Published: 13 August, 2026

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Methanol

China: Xiamen issues safety guidelines for methanol bunkering operations

New guidelines establish safety requirements across the full methanol bunkering process, supporting the expansion of green marine fuel supplies at Xiamen Port.

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Xiamen, China

Xiamen Free Trade Zone on Monday (10 August) said its Administrative Committee recently jointly issued the Safety Guidelines for Marine Methanol Fuel Bunkering in Xiamen Waters with Xiamen Port Authority and Xiamen Maritime Safety Administration, establishing a framework for methanol bunkering operations in the port.

The guidelines are the first safety operating standard in Fujian province specifically covering marine methanol fuel bunkering. They apply to methanol bunkering operations conducted by bunker vessels in Xiamen waters and set out safety requirements covering the entire operation, from preparation through completion.

The guidelines specify requirements for bunkering companies, equipment and materials used on bunker vessels, hose inspection intervals, personnel certification and personal protective equipment.

They also require operators to conduct dedicated risk assessments and prepare emergency response plans before operations begin. During bunkering, operators must maintain continuous monitoring and comply with specified weather restrictions. After completion, pipelines must undergo procedures including purging and inerting.

Xiamen Port has previously carried out ship-to-ship bunkering of biofuels and LNG. The new guidelines provide a regulatory framework and operational basis for methanol bunkering and are intended to support the safe and orderly conduct of such operations.

The move is also expected to help Xiamen Port expand its market and bunkering capacity for green marine fuels. 

 

Photo credit: Woo Winter on Unsplash
Published: 13 August, 2026

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