Selatan Bunker (M) Sdn Bhd, a subsidiary of Malaysia-listed bunkering firm Straits Inter Logistics (SIL), on 30 April 2019 ended a ship management agreement (SMA) with Singapore maritime firm Skips Marine Services Pte Ltd, it said.
The termination of the contract was due to SIL’s incorporation of subsidiary Straits Marine Services Pte Ltd which provides its own internal ship management services.
“The Board of Directors of Straits, having considered all aspects of the termination of the said SMA, is of the opinion that the termination is made in the best interest of the Company and its Subsidiaries,” said a SIL statement.
SIL currently owns and operates nine Malaysia-flagged bunkering vessels ranging from 530 to 4,700 dwt and delivers low sulphur marine gas oil (LSMGO) to nine locations in Malaysia.
The company also started Straits Marine Fuels & Energy Sdn Bhd (SMF) in early March as an effort to move into fuel oil bunkering at Johor in Malaysia; it allegedly acquired two additional bunker tankers for the operation.
SIL ended financial year 2018 with a 61% increase in net profit.
Related: Straits Inter Logistics incorporates new Singapore-based subsidiary
Related: Maybank IB Research: ‘Buy’ for bunker firm Straits Inter Logistics
Related: Straits Marine Fuels & Energy to welcome ‘identified parties’ as partner
Related: Straits Inter Logistics makes land logistics expansion
Related: Straits Inter Logistics meeting approves Banle Energy acquisition
Related: Straits Marine Fuels & Energy acquires two bunker tankers
Related: Straits Inter Logistics ends 2018 with 61% profit increase
Photo credit: Straits Inter Logistics
Published: 2 May, 2019
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.