Malaysia-listed oil trading and bunkering firm Straits Inter Logistics Berhad (SIL) on Monday (20 January) announced a letter of award from Labuan Port Authority (LPA) for the operation and facility management of Labuan Liberty Terminal (LLT) in the Federal Territory of Labuan for a period of six years.
“The commencement of such services shall take place from 1 April 2020,” noted the board in a statement.
LLT is situated on an island in East Malaysia. Its berths have a total length of 355.6 meters with alongside depths of between 4.6 meters and 10 meters, and can accommodate a deadweight tonnage of 16,000.
LPA was established in 2017, following the extension of the Bintulu Port Authority Act. Its core functions include overseeing the trade facilitation, and planning and development of LLT, as well as regulatory oversight of the facilities and services offered at the terminal.
Labuan port currently receives vessels carrying containers, dry and liquid bulk, general cargoes as well as oil and gas products.
SIL is the parent company of bunkering firm Tumpuan Megah Development Sdn Bhd, which has established marine refuelling services agreements with Bintulu Port Sdn Bhd and Lumut Maritime Terminal Sdn Bhd.
SIL posted an 83.4% jump in its third quarter (Q3) 2019 net profit due to a pick up in the oil and gas industry.
The company in early December announced Datuk Seri Tengku Baharuddin Ibni Sultan Mahmud as its new non-independent and non-executive Chairman.
Related: Straits Inter Logistics appoints new Chairman to company board
Related: Malaysia-listed Straits Inter Logistics post 83% on year jump in Q3 net profit
Related: Tumpuan Megah Development conducts first Lumut bunkering operations
Related: Tumpuan Megah Development deploys “Escolar” to support Lumut bunkering operations
Related: Tumpuan Megah Development secures exclusive bunkering arrangement with Lumut port
Related: Tumpuan Megah Development enters into bunkering agreement with Bintulu Port
Photo credit: Straits Inter Logistics
Published: 21 January, 2020
