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Straits Inter Logistics Q2 2019 net profit up on bunkering developments

Group’s 2019 outlook continues to look positive with completion of acquisitions and new business activities.

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Malaysia-listed bunkering firm Straits Inter Logistics (Straits) on Friday (23 August) posted a 166% increase in net profit for the quarter ended 30 June (Q2) of 2019 due to increased business activities.

It recorded net profit of RM 1.8 million in Q2 2019, an increase from net profit of RM 683,000 during Q2 2018.

Revenue during Q2 2019 was RM 125 million, a 183% increase from revenue of RM 44 million during the similar period last year.

Specifically, the company’s oil trading & bunkering services segment posted revenue of RM 124 million in Q2 2019.

“In line with the Group’s plan to build its sustainable revenue stream consisting of oil bunkering and trading in oil products, it has managed to almost doubled up its revenue for the second quarter of 2019 by RM81.03 million to RM125.22 million, from RM44.20 million achieved in the second quarter of 2018,” it stated.

“The substantial jump in revenue is mainly due to the consolidation of the results of Tumpuan Megah Development Sdn Bhd (Tumpuan Megah).

“For the second quarter of 2019, the revenue increased by RM16.47 million or 15.1% to RM125.22 million, from RM108.76 million achieved in the preceding quarter, as the Company commenced its MFO bunkering and increased its bunkering operation as the monsoon and festive season ended in the first quarter.

“The pick up in the oil and gas industry has also contributed to increase in demand for the bunkering business.”

Straits recently completed a 55.0% equity stake in Tumpuan Megah and 38.0% equity stake in Banle, which comes with a Profit After Tax Guarantee per annum of RM5.00 million and USD 0.83 million respectively for the financial year ending (FYE) 31 December 2019 and 31 December 2020.

“With this expanded Group business infrastructure, the Group is poised to exploit its positive mid-term prospects,” it says.
Straits, through subsidiary Tumpuan Megah, on 26 June entered into a provision of bunkering services agreement with Bintulu Port Sdn Bhd (BPSB) for a contract period of three years commencing from 1 August 2019.

In line with the Group’s business strategy to further expand its bunkering services and supply of marine fuel oil (MFO), Straits on 14 June enlarged its asset base through SMF Begonia Ltd, a wholly-owned subsidiary company of Straits Marine Fuel & Energy Sdn Bhd (SMF) by acquiring a vessel named M.T. Antlia (subsequently renamed to M.T. SMF Begonia) for a purchase consideration of USD 4.70 million.

The company on 23 April 2019, incorporated a 51.0% subsidiary known as Straits Marine Services Pte Ltd (SMS) in Singapore to provide in-house vessel and marine management services to the Group’s fleet of vessels, which was previously outsourced to external parties.

The Board of Directors is of the opinion that it would be more cost efficient and beneficial to set up its own vessel management services division under the direct supervision of its Executive Director, Captain Tony who will oversee and ensure that the vessels overall operations and maintenance cost are effectively managed at a very competitive level.

On 6 May 2019, the Group had entered into a Heads of Agreement (HOA) with Elsa Energy Sdn Bhd (Elsa) to facilitate negotiations and collaborations as well as to explore potential acquisition opportunities between Straits and Elsa.

“With the completion of the above acquisitions and new business activities, the Group’s outlook for 2019 continue to look positive,” it concludes.

Related: Tumpuan Megah Development enters into bunkering agreement with Bintulu Port
RelatedStraits Inter Logistics post 114% jump in Q1 2019 net profit
RelatedMaybank IB Research: ‘Buy’ for bunker firm Straits Inter Logistics
Related: Straits Inter Logistics incorporates new Singapore-based subsidiary
Related: Straits Inter Logistics and Elsa Energy explore collaboration
RelatedStraits Marine Fuels & Energy to start bunkering ops at Johor
RelatedStraits Marine Fuels & Energy to welcome ‘identified parties’ as partner
RelatedStraits Inter Logistics makes land logistics expansion
RelatedStraits Inter Logistics meeting approves Banle Energy acquisition
RelatedStraits Marine Fuels & Energy acquires two bunker tankers
RelatedStraits Inter Logistics ends 2018 with 61% profit increase

Published: 26 August, 2019
 

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

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Yang Ming orders six LNG dual-fuel, ammonia-ready containerships from Hanwha Ocean

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) and South Korean shipbuilder Hanwha Ocean on Wednesday (2 September) signed a shipbuilding contract for six 13,000 TEU class LNG dual-fuel container vessels. 

The contract was signed by Dr. Chuck Tsai, Chairman of Yang Ming, and Mr. Charles Kim, CEO of Hanwha Ocean. The vessels are scheduled for delivery between 2028 and 2029. 

They will complement Yang Ming’s existing fleet of 10,000+ TEU vessels and serve as key vessels on East-West services, with deployment flexibility across trade lanes connecting Asia with the East and West Coasts of North America, South America, and the Mediterranean. 

Each of the six new vessels will have a capacity of up to 13,650 TEU and feature LNG dual-fuel propulsion and Ammonia Fuel Ready specifications.

“As Yang Ming transitions toward net-zero emissions, LNG provides a relatively mature and economically viable alternative fuel solution, capable of reducing greenhouse gas emissions by approximately 20%,” the company said. 

“At the same time, ammonia can serve as a carbon-free fuel by utilising converted LNG storage facilities, while offering relatively lower conversion costs and comparatively well-developed supply chains and infrastructure. The Ammonia Fuel Ready design will therefore provide Yang Ming with greater flexibility in responding to increasingly stringent international regulations on greenhouse gas emissions.”

In addition, the vessels will be equipped with Type B LNG fuel tanks with a design pressure of 1.0 bar to enhance the safety and efficiency of LNG operations, together with a range of energy-saving technologies, including Wind Shields, Rudder Bulbs, Pre-Swirl Stators, and Shore Power Systems. Smart ship technologies and cybersecurity protection features will also be incorporated to enhance operational efficiency, safety, and reliability while effectively reducing fuel consumption and greenhouse gas emissions.

Deliveries under Yang Ming’s next-generation fleet optimization plan commenced earlier this year. By 2030, a total of 24 new vessels are expected to enter service. 

This includes 18 LNG dual-fuel vessels—comprising five 15,500 TEU, seven 16,000 TEU, and the six 13,000 TEU vessels under this contract—alongside six 8,000 TEU methanol dual-fuel-ready ships. 

 

Photo credit: Yang Ming Marine Transport
Published: 4 September, 2026

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Alternative Fuels

LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Both secured AiP for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

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LR, China’s MARIC unveil tanker concept ready for three future bunker fuels

Lloyd’s Register (LR) and the Marine Design and Research Institute of China (MARIC) on Thursday (3 September) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.

Announced at SMM 2026, the concept addresses one of the biggest investment challenges facing shipping today: the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.

While LNG is already a mature fuel pathway, methanol and ammonia remain at an earlier stage of development, with questions around global fuel availability, infrastructure development, economics and long-term adoption.

The 114,000 DWT tanker concept has been designed as a product and crude oil carrier that can accommodate future conversion to LNG, methanol or ammonia as technologies, regulations and fuel supply chains mature. By incorporating conversion readiness at the design stage, the concept aims to reduce future retrofit complexity and provide owners with greater confidence when planning long-term fleet investments.

The design concept was reviewed against LR’s July 2026 class rules and regulations, including requirements relating to ships using gases and other low-flashpoint fuels, alongside relevant IACS Common Structural Rules for oil tankers. Final classification and statutory approval remain subject to full compliance with all applicable rules and regulations.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd’s Register, said: “Shipowners are being asked to make major investment decisions today despite continued uncertainty around which fuels will dominate in the decades ahead. Alternative fuel solutions each offer potential pathways to compliance, but fuel infrastructure, regulation and economics continue to evolve at different speeds around the world.

“Designs that preserve flexibility will be critical in helping owners manage risk while preparing for multiple future scenarios.”

Si Nan, Marine & Offshore Marketing Department Vice Director, MARIC, said: “As the industry explores different decarbonisation pathways, shipowners need vessel designs that can adapt alongside technological and regulatory developments. This concept was developed specifically to provide greater fuel flexibility and long-term resilience, allowing owners to respond to changing market requirements without being locked into a single fuel strategy.

“Receiving Approval in Principle from Lloyd’s Register is an important milestone that validates the design concept and supports its future development.”

 

Photo credit: Lloyd’s Register
Published: 4 September, 2026

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Alternative Fuels

DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.

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DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024

Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.

This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.

LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.

The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.

LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).

Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.

“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains. 

“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve. 

“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”

Screenshot 2026 09 04 at 12.29.26 PM Screenshot 2026 09 04 at 12.29.36 PM

 

Photo credit: DNV
Published: 4 September, 2026

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