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Malaysia-listed bunkering firm Straits Inter Logistics net profit up 27 times

From RM 100,000 to RM 2.7 million on year in 2017, due to diversification into oil bunkering and trading activities.

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Malaysia-listed bunkering firm Straits Inter Logistics (SIL) posted a significant increase in net profit for its financial year ended 31 December 2016 due to diversification into oil bunkering and trading activities.

The company recorded net profit of RM 2.7 million ($690,000) in 2017, representing an increase of 2,606% from net profit of RM 100,000 in 2016, according to its financial statement.

Revenue was RM 134.6 million in 2017, a 96% jump from revenue of RM 68.5 million in 2016.

“Revenue for the fourth quarter of 2017 has increased by RM 18.75 million to RM 51.70 million, from RM 32.95 million achieved in the preceding quarter. This jump in revenue is mainly due to the commencement of its oil bunkering business,” said SIL.

“In the coming financial year, the group will continue to expand its oil trading and bunkering business by increasing its deliverable tonnage capacities through increasing its vessels base by acquisitions of vessels or chartering third parties' vessels, along with strengthening its operational capabilities and broadening its geographical coverage to capture the growth opportunities in the oil bunkering industry in Malaysia and Asia region.”

SIL commenced oil bunkering operations from the Pasir Gudang Port, Johor in the fourth quarter of 2017 through Selatan Bunker, which has earlier secured the Petroleum Development Act Licence (Malaysian bunker supply license) on 5 September 2016.

On 14 September 2017, SIL entered into a six-month contract for service with Labuan-based bunker supplier Tumpuan Megah Development for a contract sum of RM 45 million.

Moving on, SIL says it will continue to assess the demand from its existing and potential customers through continuous marketing activities to increase its oil bunkering activities in 2018.

“Nevertheless, the group’s operations are dependent on the level of activity in the exploration, development and production of oil and natural gas, including the level of capital spending in the offshore oil and gas industry,” it explains.

“Despite the relatively positive outlook for the offshore oil and gas industry, the industry competition is expected to intensify further in view of the rising operating costs and fluctuations in foreign exchange rates.

“The group will continue to take all reasonable steps and precautions to mitigate the impact of rising costs and intensifying market competition.”

Manifold Times earlier reported SIL on 18 January 2018 entering into formal talks with Hong Kong-based bunker trading firm Banle Energy International to explore further business opportunities in the marine fuels sector.

Related: Straits Inter Logistics and Banle Energy explore bunker business opportunities
Related: Malaysia-listed bunkering firm in private fund raising move

Published: 27 February, 2018
 

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Winding up

Singapore: Nan Shan Maritime liquidator issues notice of intended dividend

Creditors will need to produce proofs of debt to liquidator of Nan Shan Maritime by 14 July, according to Government Gazette notice.

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A notice to declare intended dividend of Nan Shan Maritime Pte Ltd to its creditors has been posted on the Government Gazette on Tuesday (30 June).

The following are the details of the notice of intended dividend:

Name of Company : Nan Shan Maritime (Pte.) Ltd. (In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Last Day for Receiving Proofs : 14 July 2026
Name of Liquidator : Tam Chee Chong
Address : c/o 10 Anson Road, #10-10, International Plaza, Singapore 079903

 

Photo credit: steve pb from Pixabay
Published: 1 July, 2026

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Fuel Testing

VPS strengthens China presence with new Shanghai marine fuel testing facility

Investment in the new testing laboratory comes as marine fuel volumes in Chinese ports continue to grow and customers increasingly demand faster testing and advisory services.

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VPS strengthens China presence with new Shanghai marine fuel testing facility

Marine fuels testing company VPS on Tuesday (1 July) announced the opening of its brand new testing laboratory in Shanghai, China.

The company said this strategic investment strengthens VPS’ global laboratory network and reinforces the company’s commitment to delivering faster, locally-based testing services to customers operating in one of the world’s most important maritime markets. 

“Shanghai has emerged as one of the fastest growing marine bunkering hubs and is expected to play a major role in the future supply of both traditional fossil fuels and emerging low-to-zero carbon fuels,” it said in a statement. 

“The new Shanghai laboratory will provide comprehensive marine fuel testing services, enabling customers to benefit from further improved turnaround times and enhanced operational decision making.”

The facility will support vessel owners, operators, charterers and fuel suppliers, with rapid, independent analysis and technical expertise, helping stakeholders to manage fuel quality risks, protect assets and maintain regulatory compliance.

Dr. Malcolm Cooper, CEO at VPS, said: “VPS is pleased to announce the opening of our new Shanghai Laboratory, which will provide fuel quality testing for bunker fuels including methanol. China is central to the global shipping industry being the world’s largest shipbuilder, producer of shipping containers and operator of the biggest commercial fleet. Shanghai is therefore the perfect home for our latest laboratory, as VPS is the world’s leading fuel testing company”.

The investment comes as marine fuel volumes in Chinese ports continue to grow and customers increasingly demand faster testing and advisory services. The new facility further enhances the VPS global footprint, which already includes laboratories in Rotterdam, Singapore, Fujairah, Houston and Manchester, supported by an international team of technical experts, sales professionals and customer service specialists.

In addition to supporting conventional marine fuels, the Shanghai laboratory will provide testing and advisory services relevant to the industry’s growing adoption of low-to-zero carbon fuels, assisting customers to navigate emerging fuel quality performance and compliance challenges.

Andrew Morton, VPS MD-AMEA, stated: “The opening of our new laboratory in Shanghai’s Lingang New Area, positions VPS at the heart of one of China’s most important maritime and industrial growth hubs. This investment reflects our confidence in the Chinese maritime market, our commitment to supporting customers closer to where they operate and our belief that Asia will remain at the forefront of shipping’s energy transition.”

The Shanghai laboratory will serve both domestic and international customers operating throughout China and across the wider Asia-Pacific region, supporting ongoing growth in marine fuel testing demand and providing a platform for future expansion of VPS services within the Chinese maritime sector.

 

Photo credit: VPS
Published: 1 July, 2026

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Bunker Fuel

AD Ports Group and IRH Global Trading to advance bunkering at Khalifa Port

Both signed a MoU, outlining potential collaboration in bunkering services to vessels calling at Khalifa Port and the development of alternative bunker fuels such as LNG, biofuels, and methanol.

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AD Ports Group and IRH Global Trading to advance bunkering at Khalifa Port

AD Ports Group on Tuesday (30 June) said it has signed a Memorandum of Understanding (MoU) with IRH Global Trading Ltd. to explore strategic cooperation in bunkering services and alternative marine fuels at Khalifa Port.

The MoU outlines potential collaboration across a range of areas, including the provision of bunkering services to vessels calling at Khalifa Port, the development of alternative fuel solutions such as Liquefied Natural Gas (LNG), biofuels, and methanol, and the exploration of opportunities related to fuel storage infrastructure, terminal facilities, and fuel sampling and testing capabilities.

Saif Al Mazrouei, CEO, Ports Cluster – AD Ports Group, said: “This collaboration reflects our commitment to forging strategic alliances that create long-term, sustainable value. 

“By working alongside trusted partners such as IRH, we are enhancing our capabilities and supporting the development of future-ready infrastructure and services that reinforce the UAE’s position as a leading global trade and logistics hub, in line with the vision of our wise leadership.”

Ali Rashed Alrashdi, Group CEO – International Resources Holding, said: “This collaboration with AD Ports Group reflects IRH’s commitment to build strategic partnerships that drive real economic impact. 

“As we continue to develop our global energy trading platform, bunkering and alternative marine fuels represent a high-potential area of growth. We see Khalifa Port as an ideal base from which to explore these opportunities, and we look forward to working closely with AD Ports Group to bring them to life.”

Through this collaboration, AD Ports Group and IRH Global Trading aim to further enhance Khalifa Port’s value proposition as a multi-purpose, deep-water port that supports efficient, sustainable, and future-oriented maritime operations.

IRH Global Trading is a global commodities trading firm with interests across the mining and energy value chain and plans to build a diversified global minerals and energy trading platform, including LNG, Liquefied Petroleum Gas (LPG), crude oil, and petroleum products. 

 

Photo credit: AD Ports Group
Published: 1 July, 2026

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