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Malaysia: Fast Energy bunkering operations record RM 213,000 net profit in Q2 2021

Revenue for bunkering, vessel chartering and petroleum trading segment was RM 69.5 million during the similar quarter, according to financial report.

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Malaysia-listed Fast Energy Holdings Berhad on Friday (27 August), the parent company of bunkering firm Fast Energy Sdn Bhd (FESB), published its quarterly report for the second quarter (Q2) of 2021 ended 30 June 2021.

The parent company posted a net profit of RM 109,000 (USD 26,095) in Q2 2021, an 89% fall from net profit of RM 890,000 in Q2 2020. Overall revenue in Q2 2021 was RM 73.5 million, up 916% from revenue of RM 7.2 million in Q2 2020.

The company, meanwhile, recorded a net profit of RM 213,000 for its bunkering, vessel chartering and petroleum trading operations during Q2 2021. Revenue for the segment was RM 69.5 million during the similar quarter.

“In an effort to expand Fast Energy Group’s revenue and profits as well as diversify its earnings bae, the Fast Energy Group is diversifying its principal activities to include oil bunkering, vessel chartering and petroleum trading business, thereby reducing its reliance on its manufacturing business segment,” it states.

“This new business segment commenced operations under its wholly-owned subsidiary Fast Energy Sdn Bhd (FESB) in December 2020 and management hopes that this business will contribute to group profit going forward.

“Additionally, the Company had also invested in a 35% equity stake in CCK Petroleum Sdn Bhd on 24 March 2021 which includes a profit guarantee. The company’s share of profit would amount to at least RM 1.75 million for each of the two financial years.

“Based on industry forecasts, maritime trade flows are expected to improve following global recovery from the health pandemic.”

Related: Malaysia: Techfast Holdings Berhad changes name to Fast Energy Holdings Berhad
Related: Techfast forms bunkering JV with Fultonn Marine and Wise Marine; poised to become shipowner
Related: Techfast net profits dive 41% in 2020; positive outlook for bunkering subsidiary
Related: Malaysia: Techfast Holdings enters MYR 540 million MGO bunker supply agreement
Related: Malaysia: Techfast Holdings & Wise Marine ink USD 540 million bunker supply contract
Related: Malaysia: Techfast starts oil trading unit, unveils bunker supplier ambition with proposed CCK Petroleum acquisition
Related: Malaysia: Techfast Holdings acquires 35% stake in bunker trading firm CCK Petroleum

 

Photo credit: Esmonde Yong on Unsplash
Published: 30 August, 2021

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Legal

Shell Singapore charged over Pulau Bukom oil leaks, reporting delays

Shell faces four charges under Singapore’s Prevention of Pollution of the Sea Act over two 2024 oil discharge incidents at its Pulau Bukom facility.

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2 MPA craft (left) supporting Shell craft in the clean up operations of the oil sheens taken on 28 Dec 9am

Shell Singapore has been charged over two incidents in 2024 involving oily mixtures discharged into Singapore waters from its facilities at Pulau Bukom, according to media reports on Tuesday (22 September). 

The company faces four charges under the Prevention of Pollution of the Sea Act, including allegations that it failed to report the discharges to the port master immediately. 

The first incident occurred on 20 October 2024, when approximately 40 metric tonnes (mt) of oily mixture was discharged through a hole in a pipeline at the Shell Singapore Energy and Chemicals Park at about 8am.

Shell is accused of reporting the incident to the port master at about 12.55pm, several hours after the discharge occurred. 

The second incident took place between 26 and 28 December 2024. An estimated 485kg to 956kg of oil mixture was discharged into Singapore waters from the same facility.

Shell is accused of failing to report the incident immediately, with notification to the port master made at about 11.50am on 26 December 2024, according to the charges.

Singapore’s pollution-prevention regulations require occupiers of such facilities to report oil or oily-mixture discharges into Singapore waters “without delay and to the fullest extent possible”.

Shell’s representative requested an eight-week adjournment at the 22 September hearing, citing the need to obtain internal instructions, appoint counsel and locate historical records. The company said the business associated with the incidents had been divested in 2025.

The case was adjourned to October. Shell is also facing prosecution by Singapore’s National Environment Agency over the same incidents.

Related: Shell reports up to 40 mt of slop leaked from pipeline into Singapore waters
Related: Singapore: No new oil sightings after recent pipeline leak and bunkering incidents
Related: Singapore: Clean-up of oil from Shell pipeline leak to be completed in days
Related: Singapore: Oil leak at Pulau Bukom stopped; cleanup of oil sheens completed

 

Photo credit: Maritime and Port Authority of Singapore
Published: 25 September, 2026

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Incident

MPA probes Singapore Strait collision involving fishing vessel, bulk carrier

MPA says there were no reported injuries among the crew of either vessel in the incident involving China-registered fishing vessel “Lu Qing Yuan Yu” and Panama-registered bulk carrier “First Margaux” .

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Panama-registered bulk carrier “First Margaux”

The Maritime and Port Authority of Singapore (MPA) on Tuesday (22 September) said it is investigating the incident involving the China-registered fishing vessel Lu Qing Yuan Yu and the Panama-registered bulk carrier First Margaux in the Singapore Strait on 17 September.

MPA said there were no reported injuries among the crew of either vessel or pollution arising from the incident and navigational traffic was not affected.

Videos circulating on social media showed the bulk carrier colliding with the fishing vessel.  

“The fishing vessel took on water during the incident but remained afloat and stable, with the crew taking measures to manage the situation onboard,” MPA said. 

The vessel was subsequently towed to Raffles Reserved Anchorage for assessment. 

Essential crew remained onboard to support the tow, while the Singapore Civil Defence Force supported the transfer of other crew to shore. 

MPA added it also issued navigational safety broadcasts to keep other vessels clear of the tow and escorted the vessel into port with a MPA craft.

 

Photo credit: MarineTraffic / Arnold Pohen
Published: 25 September, 2026

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Mass Flowmeter

TFG Marine deploys first MFM-equipped bunker barge in Jamaica

Bunker barge “Kingston Trader” is currently on its way to Jamaica following the successful installation of a Coriolis mass flow meter (MFM) system, certified to ISO 22192.

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TFG Marine deploys first MFM-equipped bunker barge in Jamaica

Global marine fuel supply and procurement firm TFG Marine on Thursday (24 September) said its bunker barge Kingston Trader is currently on its way to Jamaica following the successful installation of a Coriolis mass flow meter (MFM) system, certified to ISO 22192.

The company said the latest installation brings the proportion of TFG Marine’s fleet equipped with MFMs to approximately 88%, marking another step in the continued rollout of this technology across its global bunkering operations.

“The barge will operate in Jamaica through our local partnership with Scott Petroleum, becoming the first bunkering vessel in the region equipped with this technology and bringing greater accuracy, transparency and assurance to fuel measurement for customers across the Caribbean,” TFG Marine said in a social media post. 

“Together with Scott Petroleum, we look forward to working collaboratively with the Maritime Authority of Jamaica, the The Port Authority of Jamaica, Petrojam Limited and other stakeholders to share our experience of MFM technology, explore its wider benefits and support the continued development of bunkering standards across the region.” 

Manifold Times previously reported TFG Marine continuing to expand MFM technology across its US Gulf Coast bunker fleet with Buffalo B414 and Buffalo B304 being fitted with the equipment. 

Last year, TFG Marine announced it reached a key milestone in its global digitalisation programme with the installation of an ISO 22192-compliant MFM on the Buffalo 404, a barge on time charter from American bunker barge company Buffalo Marine Service Inc.

The installation was part of TFG Marine’s wider strategy to equip close to 90% of its global bunkering fleet with MFMs by 2026 as a commitment towards improving data integrity, streamlining operations and strengthening trust in marine fuel transactions.

Related: TFG Marine advances global MFM rollout with two US Gulf bunker barges
Related: TFG Marine installs first ISO-certified mass flow meter on US Gulf bunkering barge

 

Photo credit: TFG Marine
Published: 25 September, 2026

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