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Techfast net profits dive 41% in 2020; positive outlook for bunkering subsidiary

FESB will continue to explore suitable ventures with fleet operators and players in the shipping and logistics industry to secure medium to longer term contracts.

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Malaysia-listed investment holding company Techfast Holdings Bhd on Tuesday (1 June) has posted a 40.7% dive in net profit for 2020 due to its main products of fasteners and precision turned parts experiencing lower demand.

It recorded net profit of RM 2,077,000 (US $665,437) in 2020, down from RM 3,505,000 in 2019, according to its latest financial statement.

Revenue from operations in 2020 was RM 33,147,000, down 11% from RM 29,529,000 in 2019.

The company’s cash and cash equivalents had more than doubled (103%) to RM17,728,000 in 2020, from RM 8,729,000 in 2019.

“Due to advancements in the assembly process of computers and televisions, the main products of fasteners and precision turned parts are experiencing lower demand,” said Datuk Nur Jazlan Bin Mohamed, Independent Non-Executive Chairman.

“Orders received are usually in smaller quantities, which had resulted in lower production efficiency and a business that is no longer scalable, as evident by the decreasing profits recorded,” he added.

“In this regard, in order to reduce the cost of maintaining the operations of low profit businesses, the Company had disposed of its 100% equity interest in Oriem Technology Sdn Bhd (Oriem) which was completed on 7 April 2021.”

Datuk Nur Jazlan, who was appointed as Non-Executive Chairman on 12 November 2020, had additional comments about Techfast’s latest oil bunkering and petroleum trading subsidiary Fast Energy Sdn Bhd (FESB).

“After my appointment as Independent Non-Executive Chairman, the group started its diversification into the energy industry. On 2 November 2020, a new wholly-owned subsidiary company, FESB was incorporated and had since secured several contracts for the supply of petroleum products,” he said.

“It will continue to explore suitable ventures with fleet operators and players in the shipping and logistics industry to secure medium to longer term contracts.”

On 24 March 2021, Techfast completed the acquisition of 35% equity interest in CCK Petroleum Sdn Bhd (CCKSB), whose business is trading of marine fuels.

CCKSB has an asset-light business model, established business network of customers and it holds licenses that enable it to provide oil bunkering services at Johor Port, Penang Port and Port Klang.

To date, Techfast had completed two private placements of new shares in the Company. The Company also announced the details of an Employee Share Option Scheme and another corporate exercise to raise more funds which will mainly be directed towards the oil bunkering and petroleum trading business.

Related: Malaysia: Techfast Holdings enters MYR 540 million MGO bunker supply agreement
Related: Malaysia: Techfast Holdings & Wise Marine ink USD 540 million bunker supply contract
Related: Malaysia: Techfast starts oil trading unit, unveils bunker supplier ambition with proposed CCK Petroleum acquisition
Related: Malaysia: Techfast Holdings acquires 35% stake in bunker trading firm CCK Petroleum

 

Photo credit: Techfast Holdings Bhd
Published: 1 June, 2021

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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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Ammonia

AM Green plans to build green ammonia plant at Indian port

Initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes, says VOC Port Authority.

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VO Chidambaranar (VOC) Port Authority on Friday (29 May) said it has signed a Memorandum of Understanding (MoU) with India’s ammonia producer AM Green Ammonia to collaborate in the development of a green ammonia production plant.

The plant will have a capacity of one million tonnes per annum (MTPA) at Tuticorin.

The initiative also includes development of green ammonia handling, storage and bunkering infrastructure, pilot bunkering operations, safety procedures and training programmes. 

The project is expected to support the development of green fuel corridors connecting VOC Port with major ports in Europe and Asia, thereby strengthening India’s position in the global green fuels value chain.

VOC Port also signed a Memorandum of Understanding (MoU) with Bureau Veritas (India) Pvt. Ltd., to collaborate on Green Port certification, emissions accounting, ESG reporting, safety validation, development of green bunkering practices, and establishment of a Centre of Excellence for green fuels and sustainability.

The port also plans for an upcoming 750 m³ green methanol bunkering facility.

 

Photo credit: Naveed Ahmed on Unsplash
Published: 3 June, 2026

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