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Bunker Fuel

Malaysia: Straits Energy Resources Q4 2023 profit increases to MYR 5.72 million on bunkering gains

Growth of revenue in Oil Bunkering & Shipping Related Services Segment was driven by higher demand of both MGO and LSFO from international shipping liners, says firm.

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Malaysia-listed Straits Energy Resources Berhad (SER), formerly known as Straits Inter Logistics, on Tuesday (27 February) posted a rise in profit for the fourth quarter (Q4) of 2023 mainly due to increased revenue from its oil bunkering and shipping related services segment.

The company recorded profit before tax (PBT) of MYR 5.72 million (USD 1.21 million) in Q4 2023, 234% higher than MYR 1.71 million during Q4 2022. 

“The revenue in the current quarter increased by MYR 190.77 million to MYR 962.35 million from MYR 771.57 million in the preceding quarter contributed substantially by the Oil Bunkering & Shipping Related Services Segment,” the firm explained.

“It contributed an increase of MYR 190.09 million as a result of an increase of approximately 18% in the cargo volume sold. The growth of revenue in Oil Bunkering & Shipping Related Services Segment was driven by higher demand of both MGO and LSFO from international shipping liners.”

Revenue for its oil bunkering and shipping segment in Q4 2023 is MYR 953 million compared to MYR 726 million in Q4 2022. 

On 30 November 2023, the company entered into a conditional shares sale and purchase agreement with its 70%-owned subsidiary, Tumpuan Megah Development Sdn Bhd (TMD) for the acquisition of 330,000 Straits Marine Fuels & Energy Sdn Bhd (SMF) Shares, representing 33% of the equity interestin SMF for a purchase consideration of RM3,663,619 that was fully satisfied via cash. 

“This acquisition was completed on 1 December 2023 and SMF becomes a direct wholly-owned subsidiary of the Company,” it said on the changes in the composition of the Group. 

Related: Malaysia: Straits Energy Resources makes move for SMF to become wholly-owned direct subsidiary 

 

Photo credit: Straits Energy Resources Berhad
Published: 7 March 2024

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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