Malaysia-listed bunkering firm Straits Inter Logistics (Straits) has extended its the Heads of Agreement with Hong Kong-based bunker trading firm Banle Energy International Limited for a further nine months ending 17 February 2019.
Banle is engaged in the trading of bunker oil and provision of marketing administrative service, which is similar to Straits’s business activities of oil bunkering and trading.
Both firms signed the formal agreement on 18 January to explore potential business cooperation and collaboration opportunities.
Straits is a 100% owner of bunkering-affiliated firms TMD Straits and TMD Sturgeon; a 51% owner of Selatan Bunker (M) Sdn. Bhd; and 49% owner of Fajar Maritime and Logistics Sdn. Bhd.
Group Managing Director Dato’ Sri Ho Kam Choy earlier said Straits is currently still in the process of finalising the terms of the proposed collaboration, which is expected to positively enhance the Group’s business.
Related: Straits Inter Logistics: Positive outlook for Malaysia bunkering sector
Related: Malaysia-listed bunkering firm Straits Inter Logistics net profit up 27 times
Related: Straits Inter Logistics and Banle Energy explore bunker business opportunities
Photo credit: Straits Inter Logistics
Published: 18 May, 2018
‘SMI’s vision and goal for the next 10 years is to establish Singapore as a world-class Global Maritime Knowledge & Innovation Hub’ says Chairman.
Oman Oil Marketing Company selects WorleyParsons Engineering Oman as project management consultants.
Total bunker sales at Panama was 337,035 metric tonnes (mt) in July, compared to sales of 484,144 mt during the similar period in 2019.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
With COVID-19 infections escalating, stringent measures have been put in place; short-term visitors from affected areas not allowed to enter or transit through Singapore.
Company consumed 2,725,000 metric tonnes (mt) of marine fuel in Q2 2021, 17% higher than 2,333,000 mt of bunker fuel during Q2 2020.
‘We are happy to sit down with interested parties to discuss this opportunity, and share more details of our business regarding STS transhipment and storage with potential clients upon request,’ states Managing Director.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
