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MBA and MASA sign MoU to boost bunkering and trade activities in Malaysia

MoU, effective for three years, is expected to help contain outflow of funds by prioritising local bunkering players; it will also address illegal activities in local bunkering and shipping scene.

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Malaysia Bunkering Association (MBA) on Friday (5 May) inked a Memorandum of Understanding (MoU) with Malaysia Shipowners’ Association (MASA) that will promote employment of local vessels and provide more opportunities for Malaysian players in bunkering and trade activities.

The exclusive collaboration, effective for three years, is expected to help contain the outflow of funds by prioritising local bunkering players. It will also address illegal activities in the bunkering and shipping scene. 

The MoU was signed at an event graced by Minister of Transport Anthony Loke Siew Fook, attended by Manifold Times.

Under the MoU, the signatories will share information about their registered members upon request as well as share latest news or regulations pertaining to the Malaysian marine and the International Maritime Organisation. In addition, both MBA and MASA will collaborate to work with relevant authorities to avoid any redundancies in their pursuit of improvement for the shipping and maritime industries.

Malaysia Bunkering Association Chairman Tan Sri Mohd Bakri Mohd Zinin, said: “We are delighted to have YB Anthony Loke Siew Fook, the Minister of Transport, for witnessing this significant event today. We hope to work closely with the government as we strive to collectively achieve Malaysia’s aspiration to become a major maritime nation.”

“With the continued growth in domestic trade activities, the Malaysian bunkering landscape has a bright future ahead. Hence, the collaboration with MASA is necessary in order to ensure that local vessel owners are the ultimate beneficiaries of the robust future demand. We also hope to jointly contribute to tackling illegal activities affecting the maritime industry.”

Malaysia Shipowners’ Association Chairman Mr. Mohamed Safwan Othman, said: “I am optimistic that this collaboration between MASA and MBA would allow us to jointly develop feasible business opportunities for local players. This is vital in furthering strengthening the local maritime scene, particularly bunkering and shipping services.”

“As an industry body that has been around for more than four decades, MASA can contribute significantly by advising on industry best practices. Our strong and long-built relationship with relevant authorities will also benefit this MASA-MBA collaboration. We hope that through this tie-up, challenges and risks faced by Malaysian shipowners’ can be mitigated for better growth ahead.”

In his opening speech at the event, Mr. Mohamed Safwan Othman said bunkering is one of the important activities in ensuring the shipping industry continues to function optimally.

“This matter was noted in the Review of Maritime Transport 2022 from the United Nations Conference of Trade and Development (UNCTAD) which recorded the value of Very Low Sulfur Fuel Oil (VLSFO) above USD 1,000 per tonne in the middle of 2022, with an increase of more than 160% from June 2022. This increase is due to increased demand from the industry following the COVID-19 pandemic,” he said. 

Seeing the great potential of the local bunkering industry, he urged the government to take proactive steps in ensuring that Malaysia becomes the destination of choice for bunkering to further boost the effectiveness and competitiveness of Malaysian ports.

“With Malaysia's strategic position on the world's busiest shipping route, the Malacca Strait, Malaysia has a golden opportunity to grab market share in the region,” he added. 

“Recognising this opportunity, industry players, especially ship owners, need a conducive policy, not only for bunkering, but for all Malaysian flag ship owners who are lagging behind. Until 2022, Malaysia has fallen two steps behind with its fleet size with a record of over 9 million deadweight (dwt) only, compared to Singapore with a record of 130 million dwt, Indonesia with 23 million dwt and Viet Nam which has surpassed Malaysia in 2022 with a record of 12 million.”

For the purpose of implementing the collaboration as provided under the MOU signed today, both MBA and MASA have agreed that the detailed terms and conditions of the collaboration will be determined in the Definitive Agreement.

Established in 2021, MBA is founded by a group of like-minded Malaysian physical bunkering suppliers to improve the standards of bunkering within the Malaysian ports. MBA strives to encourage co-operation within the industry and also organises activities to attract customers to take bunkers in Malaysian ports.

Meanwhile, MASA is the only national industry organisation representing shipowners in Malaysia. Founded in 1976, MASA has a central role to play in the development of the shipping industry in the country, thanks to its strong rapport with relevant government agencies such as the Marine Department and the Maritime Division in the Ministry of Transport.

 

Photo credit: Manifold Times
Published: 5 May, 2023

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LNG Bunkering

Singapore: Pavilion Energy supplies LNG to TFG Marine dual-fuel bunker tanker

“MT Diligence” was refuelled with 34 cubic metres of LNG bunker fuel, supplied by Pavilion Energy, marking the first LNG bunkering of TFG Marine’s bunker vessel.

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Singapore: Pavilion Energy supplies LNG to TFG Marine bunker tanker

Global marine fuel supply and procurement firm TFG Marine on Monday (20 May) announced the completion of the first liquefied natural gas (LNG) refuelling of its dual-fuel bunker tanker MT Diligence this week in Jurong Port, Singapore.

The 34 cubic metres (m3) of LNG to power the MT Diligence was supplied by the Marine division of Singapore-headquartered Pavilion Energy. 

“Deploying a vessel that can be powered by LNG as well as conventional low sulphur marine fuels helps TFG Marine to meet its licence requirement with the Maritime and Port Authority of Singapore (MPA),” TFG Marine said in a social media post.

Singapore: Pavilion Energy supplies LNG to TFG Marine dual-fuel bunker tanker

“Built and operated for TFG Marine by CBS Ventures Pte Ltd, the 5,000 dwt MT Diligence has been designed to our technical specifications, including stringent safety considerations and has joined our supply fleet this year in the major bunkering centre of Singapore.”

Manifold Times previously reported TFG Marine christening the first LNG dual-fuel bunker tanker to join its fleet.  

The newbuild vessel, MT Diligence, has joined the company's low sulphur fuel oil and biofuel supply operations in the major bunkering centre of Singapore.

Related: LNG dual-fuel bunker tanker “MT Diligence” joins TFG Marine fleet for Singapore ops

 

Photo credit: TFG Marine
Published: 21 May 2024

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Winding up

Singapore: Liquidators schedule final meeting for Sejahtera Shipping and related companies

Final meetings will be held at 9 Raffles Place, #19-21 Republic Plaza Tower 2, Singapore 048619 for Sejahtera Shipping, Molek Shipping and Madu Shipping.

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The final meetings of Sejahtera Shipping Pte Ltd and its related companies have been scheduled to take place on 21 June, according to the company’s liquidators on a notice posted on Monday (20 May) on the Government Gazette.

The other companies are Molek Shipping Pte Ltd and Madu Shipping Pte Ltd. 

The meetings will be held at 9 Raffles Place, #19-21 Republic Plaza Tower 2, Singapore 048619 at the following times:

  1. Sejahtera Shipping at 11am
  2. Molek Shipping at 10.30am
  3. Madu Shipping at 10am

They will be held for the purposes of having accounts laid before the meeting showing the manner in which the winding-up has been conducted and the property of the company disposed of, and of hearing any explanation that may be given by the liquidator.

The details of the liquidators are as follows:

Cheng Sam Tai Catherine
Liquidator
c/o Crowe Horwath First Trust Corporate Advisory Pte. Ltd.
9 Raffles Place, #19-20 Republic Plaza Tower 2, Singapore 048619

A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the company. The instrument appointing a proxy must be deposited at the Registered Office of the company not less than 48 hours before the time set for holding the meeting.

Related: Singapore: Sejahtera Shipping and related companies to be wound up voluntarily

 

Photo credit: Benjamin-child
Published: 21 May 2024

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Bunker Fuel

Island Oil eyes Korean market with new Seoul office

New office marked the company’s latest expansion within Far East and Southeast Asia markets, following the opening of the company’s Hong Kong office last year.

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International marine fuel trading firm Island Oil on Monday (20 May) announced it has established an office in Seoul.

This marked the company’s latest expansion within the Far East and Southeast Asia markets, following the opening of the company’s Hong Kong office last year. 

Additionally, Island Oil has several years of established presence in Singapore, along with a representative office in Shanghai. 

Mr. Yongje (Jayden) Choi will be heading the Seoul office as Business Development Manager. 

Jayden

Mr. Yongje (Jayden) Choi

“We welcome Jayden to the Island Oil family”, said Mr. Michell Kamphorst, Head of International Trading, Asia at Island Oil.  

“His expertise in the Korean market will provide an immediate impact as we inaugurate our Seoul office, marking another significant milestone in our Asia expansion.”

“Stepping into Island Oil, I am impressed by their dedication to maintaining a culture of dignity and respect for all team members, as well as their strong commitment to fairness and transparent communication”, said Choi.

“I am excited to be a part of Island Oil's journey towards greater growth and prosperity”, he concluded.

Note: Enquiries can be sent to Island Oil’s Seoul office via email at [email protected]

Related: Island Oil continues expansion into Chinese markets with new Hong Kong trading office
Related: Island Oil and Island Petroleum receive ISCC EU certification for bio bunker fuels

 

Photo credit: TANIM MUNSHI on Unsplash / Island Oil
Published: 21 May 2024

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