The Board of Malaysia-listed oil trading and bunkering firm Straits Inter Logistics Berhad (SIL) on Friday (24 January) said it has accepted Labuan Port Authority’s Letter of Award dated 20 January 2020.
SIL provided additional information on Thursday stating it will be responsible for the operation and facility management of Labuan Liberty Terminal in the Federal Territory of Labuan.
The company will, “derive revenue from the activities and services rendered such as Container Operations, Break Bulk (Warehouse/ Container Freight Station/Open Yard), Berthing and Mooring, Harbour Tug Services, Stevedoring, Bunkering, Ship Chandelling, etc to Container and Conventional Vessels such as Bulk Carrier, General Cargo Ship, Tanker, Car Carrier and Fishing Vessel Operators.”
SIL noted it won the award via Open Tender and will provide lease rental payment to Labuan Port Authority in accordance with the submitted Tender documents.
The sum of lease rental payment and lease deposit payable to Labuan Port Authority will be disclosed by SIL upon execution of the Definitive Agreement, subject to consent by Labuan Port Authority.
It will make further announcement on the signing of the Definitive Agreement with Labuan Port Authority at a late date.
Related: Malaysia bunker supplier Straits Inter Logistics to take over Labuan Liberty Wharf
Other related: Straits Inter Logistics appoints new Chairman to company board
Other related: Malaysia-listed Straits Inter Logistics post 83% on year jump in Q3 net profit
Other related: Tumpuan Megah Development conducts first Lumut bunkering operations
Other related: Tumpuan Megah Development deploys “Escolar” to support Lumut bunkering operations
Other related: Tumpuan Megah Development secures exclusive bunkering arrangement with Lumut port
Other related: Tumpuan Megah Development enters into bunkering agreement with Bintulu Port
Photo credit: Straits Inter Logistics
Published: 28 January, 2020
The newly launched Code of Best Practices – Commodity Financing guidelines will be the new ‘reference point’ taken by banks when considering to give trade finance to trading houses, believes Ian Teo.
Captain Daknash Ganasen, Senior Director (Operations & Marine Services), MPA, provides direction on what should players do when providing bunker fuel to a COVID-19 infected ship, and more.
Garren Hay will be responsible for sales of the PANOLIN range of Environmentally Acceptable Lubricants for the Singapore sole distributor agent Gealubes Consulting & Trading Pte Ltd.
Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.