Malaysia-listed oil trading and bunkering firm Straits Inter Logistics Berhad (SIL) on Monday (10 February) incorporated Straits Port Management Sdn Bhd (SPM).
“The intended principal business activities of SPM are to carry on the business as an Investment Holding Company,” said a company statement.
SIL in late January accepted Labuan Port Authority’s Letter of Award for the operation and facility management of Labuan Liberty Terminal in the Federal Territory of Labuan.
The company earlier said it was planning to start a new company, TopCo, to acquire 51% of Megah Port Management Sdn. Bhd. (MPMSB) for MYR 5.1 million (USD 1.24 million).
The remaining 49% of MPMSB will be owned by LPM Holdings Sdn. Bhd., a subsidiary of Sailion Shipping Sdn Bhd.
MPMSB will function as the operating company to carry out Port Management Services at Labuan Port from 1 April 2020 onwards.
Related: Straits Inter Logistics proposes MPMSB acquisition for MYR 5.1 million
Related: Straits Inter Logistics confirms takeover of Labuan Liberty Terminal
Related: Malaysia bunker supplier Straits Inter Logistics to take over Labuan Liberty Wharf
Photo credit: Straits Inter Logistics
Published: 3 February, 2020
Acquisition broadens service offering, customers base and increases storage capacity to 150,000 barrels.
‘We are most excited about the evolution of the market towards January 2020,” says CEO.
Revenue from oil bunkering and trading in oil products up RM72.32 million to RM108.76 million on year.
Bunker fuel sold at the republic totalled 4.32 million mt showing not much impact from the COVID-19 pandemic, according to latest MPA data.
Development an ‘exciting and positive next step in GoodFuels’ journey,’ says GoodFuels CEO Dirk Kronemeijer.
‘It is significant to localise the entire process from designing, supplying and manufacturing of LNG tanks.’
The local bunkering sector has adapted to IMO 2020 requirements and LSFO is now available at more than two earlier locations, notes bunker supplier Trillion Energy.
Claiming USD 108,887.87 for the supply and delivery of 310.00 mt of low sulphur marine gas oil at the Port of Jeddah on or about 23 February 2020.
A sanitisation expert offers Manifold Times a summary of the processes involved in disinfecting a ship together with the equipment and products used in the operation.
‘As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction,’ says Simon Neo.
Laboratory looking to collaborate with Singapore bunker surveyors to roll out COVID 19 testing service, which has been successfully adopted by land-based industries, to the maritime sector.
Sinfeng Marine Services filed an application to the Court of Appeal to withhold information from the liquidators on October 2019; the appeal was dismissed a month later.
