Malaysia-listed Straits Inter Logistics Berhad (SIL), the parent of bunkering firm Tumpuan Megah Development Sdn Bhd (Tumpuan Megah), has changed its company name to Straits Energy Resources Berhad with effect from Thursday (19 August), it said.
The company’s securities on Bursa Malaysia will be traded and quoted under the new names with effect from 9.00 a.m., Tuesday, 24 August 2021.
Straits Energy Resources Group Managing Director Dato Sri Ho Kam Choy in early July said the purpose of the name change is to further reflect on the group’s fast-growing business as it explores more synergistic opportunities in the sustainable energy and alternative energy space.
Manifold Times earlier reported Straits Energy Resources receiving approval from Marine Department Malaysia on 30 July 2021 to commence operations to develop an integrated offshore Ship-to-Ship Transhipment Hub.
The company posted a 26% rise on year in profit for the quarter ended 31 March 2021.
Related: Tumpuan Megah Development to collaborate with Petronas for bunker deliveries
Related: Straits Inter Logistics receives government approval to develop STS hub
Related: Straits Inter Logistics subsidiary to become STS operator at Victoria Bay, Labuan
Related: Malaysia: Straits Inter Logistics gears up for USD 3.6 million STS hub project
Related: Malaysia: Straits Inter Logistics posts 26% rise on year in profit for Q1 2021
KPI OC seeking to recover debt of USD 805,602.15 over five bunker deliveries, not including accrued interest of about USD 363,000 since 15 September, showed court documents obtained by Manifold Times.
Discussions around the need to develop methanol bunkering operations are taking place at numerous ports ahead of estimated demand of above 7M mtpa by 2030, says Chris Chatterton of Methanol Institute.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.