Business

Straits Inter Logistics receives government approval to develop STS hub

STS hub will be Straits’ flagship energy project which will be located within the port limits of Victoria Bay deep water area spanning a 3,309 hectares.

Published

5 years ago

August 3, 2021

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Malaysia-listed Straits Inter Logistics Berhad on Monday (2 August) said its subsidiary Victoria STS (Labuan) Sdn Bhd (Victoria STS) had received approval from Marine Department Malaysia on 30 July 2021 to commence operations to develop an integrated offshore Ship-to-Ship Transhipment Hub.

As such, Straits has mobilised its resources and infrastructure in preparation to commence operation of the STS Transhipment Hub in the coming fourth quarter 2021.

Victoria STS is a 70% owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which in turn is a 60% owned subsidiary of Straits.

Concurrently, Victoria STS has also on 30 July 2021 received approval from Marine Department Malaysia on the Marine Risk Assessment (MRA) in accordance with the terms of reference of MRA.

The assessment was done as part of the requirements to be complied before 8 January 2022 to develop an integrated offshore Ship-to-Ship (STS) Energy Transhipment Hub within the port limits of Victoria Bay.

Straits expects to commence and complete the development of the STS Energy Transhipment Hub which includes setting up the key facilities and equipment such as tugboats, pneumatic fenders, LNG cryogenic equipment and single point mooring system by the fourth quarter of 2021.

Marine Department Malaysia had on 12 July 2021 granted the approval for the Company to develop the STS as announced to Bursa Malaysia.

The STS hub will be Straits’ flagship energy project which will be located within the port limits of Victoria Bay deep water area spanning a vast 3,309 hectares supporting an initial six (6) STS berths with safe water depths of up to 30 meters, it says.

The development will advance the introduction of state-of-the-art multi-functional energy transhipment facilities that will be able to accommodate LNG carriers up to the size of a Q-Max and Very Large Crude Carriers (VLCC).

Victoria Bay is strategically located along international shipping and energy trade routes. Straits’ plan to develop the STS Hub is set to be one of the largest offshore LNG and LPG energy transhipment hubs in Asia.

The STS hub is also strategically located within the vicinity of Labuan Liberty Port which is managed and operated by Megah Port Management Sdn Bhd (“MPM’), a 51% owned subsidiary of Straits.

“Since our announcement on 12 July 2021 on the STS Transhipment Hub, we have received numerous enquiries from both notable international and local entities that are interested in partnering us to develop this into Asia’s largest STS Transhipment Hub,” said Straits Group Managing Director Dato Sri Ron Ho Kam Choy.

“We are engaged in discussion with many parties in preparation for this project and Straits is gearing to kickstart this within the next few months. The other entities within the Straits Group will also stand to benefit from the business spin-offs of this project.”

Photo credit: Straits Inter Logistics Berhad
Published: 3 August, 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

Admin

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

Admin

“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