Bursa Malaysia-listed Straits Energy Resources Berhad (Straits) on Monday (21 September) proposed to undertake a reduction of MYR 90 million (USD 22 million) of its issued share capital to offset accumulated losses of the company and strengthen its financial position.

In a filing with Bursa Malaysia, the company said the proposed capital reduction entails the reduction of the issued share capital of Straits via the cancellation of the company’s paid-up share capital, which is substantially lost or unrepresented by available assets. 

The corresponding credit of MYR 90 million arising from the proposed exercise will be utilised to partially offset the accumulated losses while any balance credit will be credited to the capital reserve account which would serve as an additional credit buffer to set off future losses of the company.

The MYR 90 million was determined by the Board, after taking into consideration amongst others, the unaudited accumulated losses of the company for the financial year ended 30 June 2026 of MYR 101.91 million.

The proposal will not have any effect on the number or percentage of shares held by the substantial shareholders of the company as it does not involve any issuance, cancellation or transfer of shares held by the shareholders.

“Barring any unforeseen circumstances and subject to all required approvals being obtained, the proposed capital reduction is expected to be completed in the first quarter of 2027,” the company added. 

Photo credit: Straits Energy Resources
Published: 24 September, 2026

Marine fuel supplier Monjasa on Wednesday (23 September) said it has strengthened its physical marine fuel supply operations in Colombia, with two of its Cartagena-based barges completing inspections under the Barge Inspection Report Exchange (BIRE).

The barges, Roma 101 and Roma 304, have capacities of 1,340 metric tonnes (mt) and 3,640 mt, respectively, according to Monjasa.

The company said the successful inspections confirmed compliance with international standards required for collaboration with oil majors.

The development forms part of Monjasa’s wider expansion of its marine fuel activities in Colombia, where the company said it now operates across the full supply chain.

“We have become the first international marine fuels company to operate across the full supply chain. From oil wells and refinery processes to storage, logistics and final ship-to-ship deliveries,” said Trading Director Camilo Angulo Ferrand. 

“We are putting all of our local knowledge into play and investing significant resources to ensure safe and reliable marine fuels operations across Colombia.”

Ferrand and Senior Trader Sebastian Vasquez are among those overseeing the day-to-day operations and driving the development forward.

Monjasa said the latest developments follow 15 years of collaboration with customers, suppliers and local partners in Colombia.

The company completed the first bunker supply of Very Low Sulphur Fuel Oil (VLSFO) in Cartagena in 2019. 

Related: Monjasa starts 0.5% sulphur VLSFO deliveries at Colombia port
Related: Monjasa prepares to supply bio bunker fuels in Latin America while demand increases

Photo credit: Monjasa
Published: 24 September, 2026

Höegh Autoliners on Tuesday (22 September) said it has formally signed a contract with China Merchants Group (CMG) for six additional Aurora class pure car and truck carriers (PCTCs). 

The contract was signed during a high-level meeting in Naples attended by senior representatives from both companies, including Miao Jianmin, Chairman of China Merchants Group. Chair of Höegh Autoliners, Leif O. Høegh, and Andreas Enger, CEO of Höegh Autoliners.

The six additional dual-fuel LNG and zero-carbon-ready vessels will be built by China Merchants Heavy Industry (Jiangsu) Co., Ltd. (CMHI) and delivered between 2029 and 2031. 

With 18 Aurora Class vessels in the programme, Höegh Autoliners is building the fleet needed for a zero- emission future and setting the pace for the transformation of deep-sea shipping.

The Aurora Class vessels can carry up to 9,100 cars and reduce carbon emissions per transported car by up to 58 per cent compared with conventional PCTCs. They have DNV’s ammonia-ready and methanol-ready notations and are designed to be converted to run on future zero-carbon fuels.

Leif O. Høegh, Chair of the Board of Directors of Höegh Autoliners, said: “For nearly 100 years, we have developed, adapted and led the way through major changes in shipping. It is in our DNA to keep moving and challenge what is possible. This signing continues that story. We are investing in the vessels that will define our fleet for decades and help move our industry towards zero emissions.”

Andreas Enger, CEO of Höegh Autoliners, said: “This is not just another vessel-building agreement. It is a statement about the future of deep-sea shipping and the role we intend to play in shaping it. The Aurora Class is at the heart of our fleet renewal and our path to a sustainable future. By expanding the programme to 18 vessels, we are securing efficient, flexible and future-ready capacity while setting the pace towards zero-emission operations.”

Miao Jianmin, Chairman of China Merchants Group, said: “Höegh Autoliners is a pioneer in international shipping and will celebrate its 100th anniversary next year. We would like to offer our congratulations in advance! Over the past century, Höegh Autoliners has achieved remarkable development and has grown into a leading company in the global RoRo shipping sector. We truly admire what you have accomplished.”

Photo credit: Höegh Autoliners
Published: 24 September, 2026