Business

Malaysia: Techfast Holdings & Wise Marine ink USD 540 million bunker supply contract

Techfast subsidiary Fast Energy will supply bunkers in the range of 10,000 metric tonnes to 30,000 metric tonnes each month to Wise Marine for three years.

Published

5 years ago

March 16, 2021

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Malaysia-listed investment holding company Techfast Holdings Bhd on Monday (15 March) said its wholly owned subsidiary company Fast Energy Sdn Bhd on 12 March entered into a Supply Agreement with Wise Marine Pte Ltd (Wise Marine) where Fast Energy will supply low sulphur fuel oil (LSFO), low sulphur marine gasoil (LSMGO), and high sulphur fuel oil (HSFO) to Wise Marine.

The Wise Marine Group is currently a marine fuel supplier at Port Klang and manages its own fleet of five vessels. It has recently acquired a new suitable vessel for the purpose of the supply agreement, according to Techfast Holdings.

As part of the agreement, Fast Energy will supply bunkers in the range of 10,000 metric tonnes (mt) to 30,000 mt each month to Wise Marine on the average price per metric tonne as reported by S&P Global Platts in Singapore (Mean of Platts Singapore), plus an agreed premium throughout the contract period effective.

The total contract value for the supply agreement is estimated at MYR 2,222,856,000.00 (USD 540,249,590) based on present market price reported on Mean of Platts Singapore and is valid for three years.

“The supply agreement will add to the revenue streams of Techfast and is expected to contribute positively to the earnings of the Techfast Group,” it said in a company filing.

“It is also in line with Techfast Group’s objectives to diversify its business into the large volume and potentially lucrative oil and gas sector. The oil and gas sector is expected to expand with surges of demand post pandemic. The current recovery trend of crude oil prices paints a bright prospect.

“The group will benefit from the current port congestion at Port Klang and other major ports in Malaysia and Singapore. It is also well positioned to gain from the demand expansion and recovery post the Covid-19 pandemic.”

In January 2021, Techfast announced plans to diversify into petroleum product and bunker fuel trading through a 35% acquisition in CCK Petroleum Sdn Bhd.

Manifold Times in late February reported Techfast establishing petroleum trading subsidiary Fast Energy as part of plans to enter the bunkering sector.

Photo credit: Techfast Holdings Bhd
Published: 16 March, 2021

LNG Bunkering

Singapore: Eastern Pacific Shipping hits 700 LNG bunkering milestone

Since commencing LNG bunkering operations in November 2020, the company said it has completed a total LNG bunkering volume of 2,920,191 cubic metres.

Published

9 hours ago

August 18, 2026

Admin

Singapore: Eastern Pacific Shipping hits 700 LNG bunkering milestone

Singapore-based shipping firm Eastern Pacific Shipping (EPS) on Monday (17 August) said the company has successfully completed its 700th LNG bunkering operation, carried out for vehicle carrier Lake Victoria in Emden, Germany.

Since commencing LNG bunkering operations in November 2020, the company said it has completed a total LNG bunkering volume of 2,920,191 cubic metres (m3).

“Reaching 700 LNG bunkering operations reflects not only the scale of our investment in alternative-fuel capabilities, but also the experience, coordination and commitment of our teams at sea and ashore,” EPS said in a social media post.

“As we continue to grow and diversify our fleet, every operation adds to the practical experience needed to support shipping’s energy transition.”

Manifold Times previously reported the company completed a total of 530 LNG bunkering operations with over 2.4 million m3 of LNG bunkered, from the start of recorded data to 31 Dec 2025.

In its 2026 ESG Report, EPS said its fleet is among the largest dual-fuel fleets in the industry, with over 170 vessels designed to operate on alternative fuels.

In 2025, 25% of the fuel consumed by EPS fleet were alternative marine fuels, including LNG, LPG, ethane, and biofuels.

Photo credit: Eastern Pacific Shipping
Published: 18 August, 2026

LNG Bunkering

Yang Ming dual-fuel vessel completes first SIMOPS LNG bunkering operation in Shanghai

“YM Willpower” successfully received around 2,000 mt of LNG alongside active cargo handling, significantly enhancing operational efficiency during the port call.

Published

9 hours ago

August 18, 2026

Admin

Yang Ming dual-fuel vessel completes first SIMOPS LNG bunkering operation in Shanghai

Taiwanese shipping firm Yang Ming Marine Transport Corporation (Yang Ming) on Monday (17 August) said its 15,500 TEU LNG dual-fuel vessel, YM Willpower, successfully completed its first-ever LNG bunkering operation via SIMOPS (Simultaneous Operations) at the Port of Shanghai.

Through close collaboration with Shanghai International Port (Group) and SIPG Energy Shanghai, the vessel successfully received around 2,000 metric tonnes (mt) of LNG alongside active cargo handling, significantly enhancing operational efficiency during the port call.

With LNG dual-fuel technology, the company said it is continuing to expand alternative-fuel bunkering capabilities, enhance operational flexibility and efficiency and advance lower-carbon shipping solutions.

Manifold Times previously reported YM Willpower completing its first bunkering operation in Singapore.

In 2026, Yang Ming will progressively introduce newly built 15,500 TEU class container vessels primarily fueled by liquefied natural gas (LNG) into its operating fleet.

The lead vessel, YM Willpower, completed partial LNG bunkering at the shipyard prior to delivery and was officially deployed on 8 February into Yang Ming’s Far East–Mediterranean MD2 service.

Photo credit: Yang Ming Marine Transport Corporation
Published: 18 August, 2026

Methanol

Fratelli Cosulich launches methanol-ready bunker tanker in China

Designed with MarineLINE-coated cargo tanks and methanol readiness from the outset, “Carlotta Cosulich” combines operational flexibility with future-fuel readiness.

Published

9 hours ago

August 18, 2026

Admin

Fratelli Cosulich launches methanol-ready bunker tanker in China

Genoa-based marine fuel supplier Fratelli Cosulich on Monday (17 August) announced the launch of its new methanol-ready bunker IMO II tanker, Carlotta Cosulich.

The launch of Carlotta Cosulich, the third of four sister vessels, took place at Taizhou Maple Leaf Shipyard in China, bringing together the project team, partners and stakeholders.

Silvia Bordon, General Manager, served as the vessel’s godmother during the ceremony.

“Designed with MarineLINE-coated cargo tanks and methanol readiness from the outset, Carlotta Cosulich combines operational flexibility with future-fuel readiness,” the company said in a statement.

Equipped with a five-tonne cargo crane and dedicated arrangements for Single Point Mooring (SPM) operations further enhances her versatility across a wider range of bunkering operations.

“Following the successful delivery of her two sister vessels, she brings us one step closer to completing this four-vessel programme and reinforces Fratelli Cosulich Group’s commitment to safety, innovation, sustainability and operational excellence,” the company added.

Photo credit: Fratelli Cosulich
Published: 18 August, 2026