Business

Straits Energy Resources and Fendercare Marine to promote Labuan STS services

STS hub will be Straits’ sustainable energy flagship project in Victoria Bay deep water area spanning a vast 3,309 hectares supporting an initial six STS berths.

Published

5 years ago

December 16, 2021

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Malaysia-listed Straits Energy Resources (SER), formerly known as Straits Inter Logistics, on Wednesday (15 December) said its subsidiary Victoria STS (Labuan) Sdn Bhd (Victoria STS) has signed a Heads of Agreement (HOA) with Fendercare Marine (Asia Pacific) Pte Ltd (FCM).

The HOA aims to form an exclusive collaboration to provide ship-to-ship (STS) services together at the port limit of Victoria Bay, Labuan, Malaysia.

Ensuring the success of the STS transhipment hub, both parties will combine their synergistic resources and expertise to provide STS services at Victoria Bay Port Limit.

Victoria STS, a 70% owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which in turn is a 60% owned subsidiary of Straits, has been awarded a concession to develop an integrated offshore ship-to-ship energy transhipment hub at Victoria Bay Port Limit.

The STS hub will be Straits’ sustainable energy flagship project in Victoria Bay deep water area spanning a vast 3,309 hectares supporting an initial six STS berths with safe water depths of up to 30 meters.

Straits’ Group Managing Director Dato Sri Ron Ho Kam Choy said: “As a result of our diligent efforts the last few months in seeking the right and synergistic collaboration partner for this STS project, we are delighted to have gained a valued and important partner in Fendercare.

“This collaboration will kickstart Straits’ foray into the sustainable and alternative energy space and together with Fendercare, our prime focus right now is to establish Victoria Bay Port Limit as a major energy transhipment hub in Asia. We are confident of being able to serve the needs of major global shipping line customers with our combined wide spectrum of energy related maritime solutions and infrastructure.

“The STS hub is scheduled to commence operation by early 1st quarter 2022.”

“Straits as a fast-growing enlarged group is always looking for business opportunities to increase its earnings base, and this exclusive collaboration with Fendercare will definitely open up an array of numerous exciting opportunities not only for Victoria STS but also the other entities within the Straits Group that will benefit from the business spin-offs of this project.”

Fendercare’s Managing Director Elizabeth Skinner commented: “We are delighted to be collaborating with Straits Energy Resources on this new venture to establish STS exclusively at Victoria Bay Port Limit in Labuan, Malaysia.”

“Since we first met with Dato Sri Ron and his team it was clear their passion for quality and a safety-first philosophy mirrored that of our own, so we are excited to be working together.

“Fendercare are world leaders in STS with close to 60 STS locations globally and we pride ourselves on delivering safe and efficient operations for the world’s largest energy companies and commodity traders and this reputation has been built up over 25 years.

“Our success is also due to the relationships we have with our local partners and with Straits we are confident we can develop Victoria Bay into an STS hub location for transfer of all oil and gas cargoes without restriction on vessel sizes.

“Furthermore, due to the favourable met ocean conditions at the STS location at Victoria Bay, we will also be conducting STS transfers of LNG. As the drive increases for the world to transition to cleaner and greener sources of energy, LNG STS is becoming more commonplace and where we have over a decade’s experience.

“So for us to offer transfers of LNG as well as all oil cargoes at Victoria Bay gives our customers additional options and flexibility which we anticipate an appetite for and hope to grow this venture together with Victoria STS and Straits.”

Straits on 12 July 2021 received approval from the Marine Department Malaysia to develop Asia’s largest STS transhipment hub in Victoria Bay Port Limit, Labuan.

Photo credit: Straits Energy Logistics
Published: 16 December, 2021

Alternative Fuels

Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Following the successful deployment of “ONE Singapore” and its sister vessels, “ONE Solidarity” will be deployed on the Mediterranean Pacific South 2 (MS2) service.

Published

1 day ago

July 3, 2026

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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Singapore-based container shipping company Ocean Network Express (ONE) on Thursday (3 July) said it celebrated the maiden voyage of containership ONE Solidarity as the ship made its first-ever arrival in Shekou, China.

“As one of our S-series methanol and ammonia ready container vessels, ONE Solidarity is another demonstration of ONE’s commitment to sustainable shipping,” the company said in a social media post.

Following the successful deployment of ONE Singapore and its sister vessels, ONE Solidarity will be deployed on the Mediterranean Pacific South 2 (MS2) service.

“Her deployment will boost our service capacity, ensuring faster, more reliable, and highly efficient shipping offerings across key global trade lanes,” the company added.

Photo credit: Ocean Network Express
Published: 3 July, 2026

Alternative Fuels

“Lucia Cosulich” enters final preparation ahead of bunkering operations

Following delivery of the ship in China, it will now enter the final preparation phase ahead of its next operational steps, strengthening Fratelli Cosulich’s ability to provide reliable bunkering solutions.

Published

1 day ago

July 3, 2026

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“Lucia Cosulich” enters final preparation ahead of bunkering operations

Fratelli Cosulich Marine Energy on Thursday (2 July) celebrated the delivery of Lucia Cosulich at Taizhou Maple Leaf Shipyard in China.

The vessel is the second of four sister methanol-ready IMO II bunker tankers developed within the Group’s fleet expansion programme and follows the launching ceremony held on 2 May 2026.

Designed to support the Group’s bunkering operations and future fuel requirements, Lucia Cosulich is part of the new generation of vessels developed by Fratelli Cosulich Marine Energy to combine operational reliability, safety and fuel flexibility.

Lucia Cosulich will now enter the final preparation phase ahead of its next operational steps, further strengthening the Group’s ability to provide reliable bunkering solutions.

“We wish Lucia Cosulich and her crew fair winds on the next stage of her journey,” the company said.

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

Business

Glencore backs FincoEnergies’ biofuel growth with majority stake acquisition

With Glencore’s support, FincoEnergies is well positioned to continue expanding its offerings in biofuels across multiple transport segments and to increase its presence in new geographies.

Published

1 day ago

July 3, 2026

Admin

Dutch biofuel supplier FincoEnergies on Thursday (2 July) announced the completion of global commodities trader Glencore’s acquisition of a majority stake in the company, forming a partnership with Coloured Finches.

FincoEnergies said its fuel distribution and logistics infrastructure, customer relationships and expertise in downstream fuel transportation will be complemented by Glencore’s global scale, sourcing capabilities and experience across the energy value chain.

With Glencore’s support, FincoEnergies added it is well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments and to increase its presence in new geographies.

Jan-Willem van der Velden, FincoEnergies CEO and Founder, said: “Today marks an exciting next step for FincoEnergies. Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition. With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve.”

Maxim Kolupaev, Head of Glencore Energy UK, said: “Glencore’s investment in FincoEnergies strengthens the presence of our business in Northwest Europe and creates a strong platform for future growth. We are looking forward to continuing to work closely with the FincoEnergies team and building on the successful relationship we have already developed together.”

Manifold Times previously reported FincoEnergies signing an agreement with Glencore for the acquisition of a majority shareholding in the FincoEnergies Group in a partnership with Coloured Finches.

Photo credit: FincoEnergies
Published: 3 July, 2026