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
Veritas Petroleum Services records numerous contaminants such as plastic, fibres, black gum, paraffins, fatty acids, and other component found in the off-spec RMK 700 marine fuel.
Course includes topics on valid and binding transactions; quality or quantity disputes; shipping issues; contract termination; claims; insolvency and others. Registration closes 25 February 2021.
All bunker vessels that have received the necessary clearance for out of port bunkering operations may do so at the stated Tompok Utara coordinates only or risk penalty, according to the MMEA.
The COVID-19 pandemic continues to evolve and MPA is working closely with other agencies to monitor the situation, both globally and in Singapore, the port authority tells Manifold Times.
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.