Connect with us

Business

Malaysia: Fast Energy bunkering operations record RM 1.5 mil net profit in Q2 2022

Revenue for bunkering, vessel chartering and petroleum trading segment was RM 139 million during the similar quarter, states financial report.

Admin

Published

on

KLCC view

Malaysia-listed oil bunkering and renewable energy provider Fast Energy Holdings Berhad on Tuesday (23 August) published its quarterly report for the second quarter (Q2) of 2022 ended 30 June 2022.

The company posted a net profit of RM 1.02 million (USD 228,810) in Q2 2022, a 843% increase from net profit of RM 109,000 in Q2 2021. Overall revenue in Q2 2022 was RM 88.6 million, up 36.2% from revenue of RM 65.1 million in Q2 2021.

This increase in revenue was mainly due to increase in the firm’s oil bunkering and petroleum trading business segment.

The company, meanwhile, recorded a net profit of RM 1.5 million for its bunkering, vessel chartering and petroleum trading operations during Q2 2022. Revenue for the segment was RM 139 million during the similar quarter.

“As at the date of this report, CCKSB is a 35%-owned associate company of the Company. Upon completion of the proposed acquisition, Fast Energy will hold 70% equity interest in CCKSB and accordingly, CCKSB will become a subsidiary. This proposed acquisition is subject to the approval from shareholders at the forthcoming Extraordinary General Meeting.”

“Premised on the above and the growing demand for marine fuel oils as global trade and shipping activities gain momentum following reopening of economies, Management is cautiously optimistic on the overall prospects of this business segment barring any unforeseen circumstances.”

With the signing of the share sale agreement for the disposal of 100% equity interest in Cape Technology Sdn Bhd, the Group will be focusing on the oil bunkering, petroleum trading and renewable energy business segments going forward, it said. 

Related: Malaysia: Fast Energy proposes acquisition of CCK Petroleum Sdn Bhd shares
Related: Malaysia: Fast Energy proposes disposal of Cape Technology over bunkering ambition
Related: Malaysia: Fast Energy bunkering operations record RM 213,000 net profit in Q2 2021

 

Photo credit: Esmonde Yong on Unsplash
Published: 24 August, 2022

Continue Reading

Safety

Singapore: MPA urges port users to stay vigilant during monsoon surge

Moderate to heavy showers and strong winds are expected from 19 to 21 March due to a north-east monsoon surge and as such, vessels must be properly secured for sea at all times, says MPA.

Admin

Published

on

By

RESIZED SG bunker tanker

The Maritime and Port Authority of Singapore (MPA) on Wednesday (19 March) has reminded owners, agents and masters of vessels to stay vigilant from 19 to 21 March due to a north-east monsoon surge. 

“Moderate to heavy showers, and strong winds are expected during this period. Vessels must be properly secured for sea at all times,” MPA said in a port marine notice.

“The life-saving and firefighting equipment onboard must also be in good working condition and in accordance with the International Code for the Safety of Life at Sea (SOLAS) regulations,” it said.

“Crew members shall be familiar with all emergency procedures, especially when embarking and disembarking passengers during adverse weather conditions. Vessels should maintain safe speeds, observe International Regulations for Preventing Collisions at Sea (COLREGs).”

Masters of vessels are reminded to keep a safe anchor watch. 

 

Photo credit: Manifold Times
Published: 20 March, 2025

Continue Reading

Alternative Fuels

Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

New vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, will serve inter-island commuter and tourism operations across Hong Kong.

Admin

Published

on

By

Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

Global digital shipbuilder Incat Crowther on Wednesday (19 March) said Hong Kong-based ferry operator Sun Ferry has taken delivery of Xin Ming Zhu 30, a new, 35-metre diesel-electric ferry. 

The new vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, is the third vessel to join a fleet of seven new vessels designed by Incat Crowther for the mass transit operator.

The vessel will serve inter-island commuter and tourism operations across Hong Kong, connecting Peng Chau, Mui Wo, Chi Ma Wan and Cheung Chau.

The 300-seat passenger ferry boasts Veth azimuth thrusters that provide high manoeuvrability at operating speeds of 14 knots. The adoption of this technology makes the vessel suitable for berthing at piers on inter island routes.

The vessel is also fitted with 72 solar panels providing 7.5 kilowatts of on-board power.

Sam Mackay, Technical Manager at Incat Crowther, said: "This vessel reflects Sun Ferry’s commitment to future focused design solutions that not only meet operational needs, but that exceed customer expectations.”

“With diesel-electric propulsion, solar technology, and passenger-centric design, it sets a new benchmark for sustainable and efficient ferry services in Hong Kong.”

The delivery of the 35-metre hybrid vessel follows the delivery of two 45-metre conventional diesel-powered vessels to Sun Ferry. The final three vessels, all 45-metre vessels, will be delivered by the end of 2025. All vessels in the fleet have been designed by Incat Crowther and built by AFAI Southern Shipyard.

 

Photo credit: Incat Crowther
Published: 20 March, 2025

Continue Reading

Biofuel

PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Company supplied the bio bunker fuel, a product containing 30% renewable raw materials, to “BBC Lisbon” at Port of Aveiro on 3 March and to “ANNA” at Port of Leixões on 18 March.

Admin

Published

on

By

PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Biofuels producer PRIO on Wednesday (19 March) said it carried out Eco Bunkers B30 fuel deliveries to shipping company Briese Chartering in collaboration with its partner UFS Unites Fuel Services this month.

On 3 March, PRIO supplied the biofuel to cargo vessel BBC Lisbon at the Port of Aveiro and to another cargo vessel, ANNA, at the Port of Leixões on 18 March. 

“With these two Eco Bunkers B30 deliveries, a product containing 30% renewable raw materials, PRIO enabled Briese Chartering to reduce around 60 tons of CO2 in just two port calls in Portugal,” it said in a social media post. 

“Produced at PRIO’s Aveiro plant, biodiesel has the potential to reduce GHG emissions by approximately 88% compared to fossil fuels.”

“PRIO has been demonstrating its commitment to decarbonising the maritime sector by supplying more sustainable products, ranging from 1% to 100% renewable content.”

Manifold Times previously reported PRIO launching its ECO Bunkers B30 biofuel in partnership with Norwegian Cruise Line Holdings and World Fuel Services.

PRIO previously launched ECO Bunkers B15, a green fuel for ships with 15% biodiesel and the company then launched a 20% biofuel blend, ECO Bunkers E20. 

Related: PRIO launches new 30% advanced biofuel bunker blend, made from waste feedstocks

 

Photo credit: PRIO
Published: 20 March, 2025

Continue Reading
Advertisement
  • Aderco Manifold Website Advert EN
  • Consort advertisement v2
  • EMF banner 400x330 slogan
  • v4Helmsman Gif Banner 01
  • RE 05 Lighthouse GIF
  • SBF2
  • Sea Trader & Sea Splendor
  • Zhoushan Bunker

OUR INDUSTRY PARTNERS

  • HL 2022 adv v1
  • Singfar advertisement final
  • Triton Bunkering advertisement v2
  • MFT 25 01 E Marine Logo Animation
  • SEAOIL 3+5 GIF


  • PSP Marine logo
  • Mokara Final
  • pro liquid
  • Innospec logo v6
  • Auramarine 01
  • NW Logo advertisement
  • Synergy Asia Bunkering logo MT
  • MFA logo v2
  • Energe Logo
  • Trillion Energy
  • Advert Shipping Manifold resized1
  • VPS 2021 advertisement
  • LabTechnic

Trending