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Straits Inter Logistics subsidiary acquires oil tanker ‘MT Guo Kang No 1’ for USD 1.6 million

Acquisition to be made by Sierra Pioneer Marine, owned by SIL subsidiary Straits Marine Fuels from Singaporean owned vessel trading company Ocean World Inc.

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Malaysia-listed Straits Inter Logistics Berhad (SIL), principally engaged in oil trading, bunkering and investment holding activities, on Tuesday (16 February) said Sierra Pioneer Marine Ltd (Sierra), has entered into a Memorandum of Agreement (MOA) with Ocean World Inc (Ocean) to acquire a vessel named M.T. Guo Kang No 1.

Sierra is an investment holding company and a 51% owned subsidiary of Straits Marine Fuels & Energy (SMF) which in turn, is a 67% owned subsidiary of SIL.

Ocean World is a Singaporean owned vessel trading company registered in the British Virgin Islands.

The purchase consideration of the transaction is USD 1.6 million (MYR 6.5 million) to be fulfilled entirely by Sierra via cash financed through internally generated funds, it said.

The purchase consideration of USD1,600,000 was arrived at, on a willing-buyer willing-seller basis, after taking into consideration the market value of M.T. Guo Kang No 1 of USD 1.83 million as ascribed by the appointed independent registered valuer, noted SIL.

The purchase consideration represents a discount of approximately 12.56% over the Market Value which the Board of SIL finds to be reasonable.

The company noted the acquisition will enable Sierra to expand the business of SMF especially in the supply of High Sulphur Fuel Oil (HSFO) market to cater the increasing demand of HSFO in Malaysia.

The addition of M.T. Guo Kang No 1 will enlarge the asset base of Straits and its subsidiary companies and would provide the group with added flexibility in respect of its allocation and utilization of vessels in undertaking its business activities.

At present, Tumpuan Megah operates in eight ports around Malaysia, which include Lumut Port, Pasir Gudang Port, Tanjung Pelepas Port, Johor Bahru Port, Kuantan Port, Kemaman Port, Kuala Terengganu Port and Labuan Port, all of which are licensed under Petroleum Development Act 1974 for its bunkering services. It has an enlarged fleet size of 11 vessels with a total carrying capacity of 22 million litres.

The details of the transaction are as follows:

Name of vessel M.T. Guo Kang No.1 
Type  Oil tanker 
International Maritime Organisation (“IMO”) number  9394492
Flag Cook Islands
Place of Registry  Cook Islands
Year of Built 2006
Age 15 Years 
Builder’s name Guangxi Xijiang Shipyard Co. Ltd
Deadweight tonnage  2,169 tonnes
Gross tonnage  1,432 tonnes
Length over all/ Depth/ Breadth (metres) 57.850 / 5.800 / 15.000
Current use Provision of oil bunkering services

 

Related: Straits Inter Logistics plans private placement to increase stake in Tumpuan Megah
Related: Straits Inter Logistics sees 66% decline in net profit; slight recovery in bunker business
Related: Straits Inter Logistics subsidiary SMF Eden acquires “M.T. MO Satu” bunker tanker for USD 4.5 million
Related: Straits Inter Logistics sees 67.8% fall in Q2 2020 profit due to Covid-19 related impact
Related: Straits Inter Logistics subsidiary Beluga Asia acquires bunker tanker to increase service availability
Related: Straits Inter Logistics IMO 2020 strategies contribute 141.2% jump in revenue for Q1


Photo credit: Straits Inter Logistics Berhad
Published: 17 February, 2021

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Business

Hong Kong-based bunker trading firm E-Marine expands ops with new Shanghai branch office

The HONG KONG E-MARINE SHANGHAI BRANCH will assist E-Marine’s head office in handling bunker trading operations and increase overall bonded bunker trading volumes at China.

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E Marine Shanghai office front

Hong Kong-based marine fuel and lubricant trading company Hongkong E-Marine Supply Service Corporation Limited (E-Marine) on April 15 launched a branch office in Shanghai, learned Manifold Times.

The company HONG KONG E-MARINE SHANGHAI BRANCH will assist the head office in handling bunker trading operations and increase overall bonded bunker trading volumes at China, Managing Director Darcy Wang told the bunkering publication.

“The Shanghai office serves as our China business support and coordination centre. It enables us to stay close to our customers, suppliers and business partners, while also providing access to a deep pool of industry talent,” he shared.

This development is in line the target to significantly increase our annual bonded bunkering portfolio in China to 1 million metric tonnes (mt) by 2030.

“As we continue to expand our presence in China, we welcome capable and motivated individuals who share our long-term vision to join our Shanghai office.”

E-Marine’s new Shanghai office address is as follows:

Shanghai Xuhui District
Chang Ning Road No.889
Shanghai Yang Guang Bin Jiang Center
Unit 22-13

Candidates interested in growing together with E-Marine are invited to send their CV or profile to [email protected].

E Marine Shanghai office tea cups

Related: E-Marine raising China bonded bunker trading portfolio to 1 million mt by 2030, seeks talents
RelatedHong Kong-based bunker trading firm E-Marine obtains ISCC EU certification
RelatedHong Kong-based bunker trading firm E-Marine introduces Global Sales & Procurement Manager
RelatedHong Kong-based bunker trading firm E-Marine expands operations with Singapore branch
RelatedBunker and lube trading firm Hongkong E-Marine Supply Service to open Singapore branch by June

 

Photo credit: Manifold Times
Published: 4 June 2026

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Biofuel

BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

Bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier “Berge Lyngor”, which was bunkered in Singapore in early May.

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BHP and GCMD trial multi-feedstock B100 bio bunker fuel on bulk carrier

BHP and the Global Centre for Maritime Decarbonisation (GCMD) on Wednesday (3 June) said they have blended biofuels from two distinct feedstocks—used cooking oil and waste animal fats —and introduced the lower-emissions marine fuel into a BHP-chartered bulk carrier as part of a pilot project.

The bio-blend in the BHP and GCMD pilot is being used on a BHP-chartered bulk carrier Berge Lyngor, owned and operated by Berge Bulk, transporting BHP iron ore from Western Australia to China. When run on bio-blend, the vessel has the potential to reduce well-to-wake greenhouse gas emissions by approximately 79 per cent per voyage compared to sailing on very low sulphur fuel oil (VLSFO).

The vessel bunkered in Singapore in early May with a B100 bio-blend comprising 50 percent tallow-derived biodiesel, sourced and supplied by HAMR Energy, and 50 per cent used cooking oil (UCOME) supplied by Mitsui & Co Energy Trading Singapore (METS).

Mitsui also blended the fuel and Dan-Bunkering coordinated and executed the bunkering operation, which was performed by Global Energy’s barge MT Maple.

The BHP and GCMD pilot will assess how biofuels from multiple feedstocks can be blended, handled, and introduced under real-world operating conditions using existing used cooking oil bunkering infrastructure.

At the same time, insights from this pilot will help identify solutions to challenges related to fuel quality, handling, traceability, and onboard vessel performance.

Biofuels for global shipping today rely heavily on used cooking oil – a feedstock whose availability is approaching its projected limits. Biofuel from waste animal fats presents a promising option to expand the supply of lower-emissions marine fuels.

The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance.

Biofuels derived from different feedstocks can exhibit varying properties that may impact operations, including potential corrosion from oxidation, fuel system clogging caused by wax formation, which this pilot aims to assess.

The pilot will trace and verify the biofuel blend’s integrity aimed at bolstering confidence in emissions reductions reporting. The pilot will also provide insights into how robust tracing can support future marine fuel supply chains where biofuels from multiple feedstocks with varying lifecycle greenhouse gas emissions footprints are blended together.

This project is co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund (MINT).

 

Photo credit: Global Centre for Maritime Decarbonisation
Published: 3 June, 2026

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Biofuel

NYK starts one-year B100 bio bunker fuel trial on car carrier

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices.

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NYK starts one-year B100 bio bunker fuel trial on car carrier

Japanese shipping firm NYK on Tuesday (2 June) said it has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier. 

In this trial, NYK will operate a car carrier continuously on B100 for one year to evaluate the impact on engines, fuel supply systems, and operational practices. High-purity biofuels such as B100 are known to be susceptible to degradation from oxygen, light, and heat, raising concerns about the stability of such fuels during long-term use.

In this trial, the biofuel primarily comprises FAME (Fatty Acid Methyl Ester) derived from used cooking oil and similar feedstocks.

The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions. 

Through this effort, NYK seeks to accumulate technical expertise that will support the broader use of high-purity biofuels and further accelerate efforts to reduce greenhouse gas (GHG) emissions.

NYK has been advancing the use of biofuels through various initiatives. In 2024, the company conducted a trial using biofuel blend B24 and subsequently expanded practical usage to B30. However, the company said there remains limited global experience with the long-term continuous use of B100.

“By collecting long-term operational data through this trial, NYK aims to accumulate valuable technical insights to support both the safe operation of vessels and the wider adoption of high-purity biofuels,” it said. 

 

Photo credit: NYK
Published: 3 June, 2026

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