Malaysia-listed Straits Inter Logistics (Straits) has entered formal talks with Hong Kong-based Banle Energy International (Banle) to explore further business opportunities in the bunkering sector.
Banle is engaged in the trading of bunker oil and provision of marketing administrative service, which is similar to Straits’s business activities of oil bunkering and trading, it said.
The agreement allows both parties to explore potential business cooperation / collaboration opportunities: “Which include, but are not limited to, joint venture, business partnership and/ or acquisition of equity stake between the parties to further expand their business operations and geographical coverage”.
According to Straits, Banle recorded net profit of $365,238 for its past financial year ending 31 July, 2017. The company’s net assets stood at $1.10 million in the similar period.
Manifold Times earlier reported Straits planning a private fund raising move to raise up to approximately $3.43 million.
Publication date: 22 January, 2018
300 metric tonnes of marine distillate DMF fuel type III produced at Rosneft’s Komsomolsk refinery was bunkered onto the vessel, said the company.
The litigation at a Zhoushan City court was among other developments highlighted in a quarterly update.
Under this scale-up initiative, EcoLabs and its partners will support each firm with SGD 100,000, in-kind contribution, investments and co-funding of projects.
Lack of demand for air travel due to the Covid-19 pandemic has caused the price of jet fuel to plummet and become a viable component for blending bunkers, reports Bloomberg.
Defendant has been fined MYR 50,000 for illegally anchoring the vessel at the Traffic Separation Scheme (TSS); the vessel has since been returned to its owner.
‘We still believe in an oil price recovery, possibly as early as June, and see a risk for a tight market in 2022 with prices much higher than pre-crisis levels,’ says Rystad Energy.
Seeking bunker claim from 13 unpaid invoices; seven under Term Sales Contracts entered on 30 April 2020 and six under Spot Contracts, according to court documents obtained by Manifold Times.
The representative was providing clarification to a query from Manifold Times when asked if the bunkering licenses of the Hin Leong Trading affiliated company have been permanently revoked.
Patrizia Cosulich becomes first bunker tanker in Singapore to undertake its Mass Flow Meter extension test using the Master Mass Flow Meter, learns bunkering publication Manifold Times.
Bunker claims totalling SGD 628,000 for 88 deliveries of marine gas oil between the period of 7 February 2020 until 15 April 2020, according to documents obtained by Manifold Times.
Event welcomed over 1,100 attendees from 42 countries; delegates visited virtual booths about 4,800 times; while around 5,800 connections were made, according to data from organiser Informa.
Bunker suppliers and bunker craft operators may choose to carry out meter verification using either existing MIMO method OR with the use of a Master Meter.
