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Straits Inter Logistics subsidiary acquires oil tanker ‘MT Guo Kang No 1’ for USD 1.6 million

Acquisition to be made by Sierra Pioneer Marine, owned by SIL subsidiary Straits Marine Fuels from Singaporean owned vessel trading company Ocean World Inc.

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Malaysia-listed Straits Inter Logistics Berhad (SIL), principally engaged in oil trading, bunkering and investment holding activities, on Tuesday (16 February) said Sierra Pioneer Marine Ltd (Sierra), has entered into a Memorandum of Agreement (MOA) with Ocean World Inc (Ocean) to acquire a vessel named M.T. Guo Kang No 1.

Sierra is an investment holding company and a 51% owned subsidiary of Straits Marine Fuels & Energy (SMF) which in turn, is a 67% owned subsidiary of SIL.

Ocean World is a Singaporean owned vessel trading company registered in the British Virgin Islands.

The purchase consideration of the transaction is USD 1.6 million (MYR 6.5 million) to be fulfilled entirely by Sierra via cash financed through internally generated funds, it said.

The purchase consideration of USD1,600,000 was arrived at, on a willing-buyer willing-seller basis, after taking into consideration the market value of M.T. Guo Kang No 1 of USD 1.83 million as ascribed by the appointed independent registered valuer, noted SIL.

The purchase consideration represents a discount of approximately 12.56% over the Market Value which the Board of SIL finds to be reasonable.

The company noted the acquisition will enable Sierra to expand the business of SMF especially in the supply of High Sulphur Fuel Oil (HSFO) market to cater the increasing demand of HSFO in Malaysia.

The addition of M.T. Guo Kang No 1 will enlarge the asset base of Straits and its subsidiary companies and would provide the group with added flexibility in respect of its allocation and utilization of vessels in undertaking its business activities.

At present, Tumpuan Megah operates in eight ports around Malaysia, which include Lumut Port, Pasir Gudang Port, Tanjung Pelepas Port, Johor Bahru Port, Kuantan Port, Kemaman Port, Kuala Terengganu Port and Labuan Port, all of which are licensed under Petroleum Development Act 1974 for its bunkering services. It has an enlarged fleet size of 11 vessels with a total carrying capacity of 22 million litres.

The details of the transaction are as follows:

Name of vessel M.T. Guo Kang No.1 
Type  Oil tanker 
International Maritime Organisation (“IMO”) number  9394492
Flag Cook Islands
Place of Registry  Cook Islands
Year of Built 2006
Age 15 Years 
Builder’s name Guangxi Xijiang Shipyard Co. Ltd
Deadweight tonnage  2,169 tonnes
Gross tonnage  1,432 tonnes
Length over all/ Depth/ Breadth (metres) 57.850 / 5.800 / 15.000
Current use Provision of oil bunkering services

 

Related: Straits Inter Logistics plans private placement to increase stake in Tumpuan Megah
Related: Straits Inter Logistics sees 66% decline in net profit; slight recovery in bunker business
Related: Straits Inter Logistics subsidiary SMF Eden acquires “M.T. MO Satu” bunker tanker for USD 4.5 million
Related: Straits Inter Logistics sees 67.8% fall in Q2 2020 profit due to Covid-19 related impact
Related: Straits Inter Logistics subsidiary Beluga Asia acquires bunker tanker to increase service availability
Related: Straits Inter Logistics IMO 2020 strategies contribute 141.2% jump in revenue for Q1


Photo credit: Straits Inter Logistics Berhad
Published: 17 February, 2021

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Alternative Fuels

ClassNK updates safety guidelines for alternative-fuelled ships

The classification society says it has revised the safety requirements within its guidelines for ships using methanol, ethanol and hydrogen as marine fuels.

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Classification society ClassNK on Tuesday (18 August) said it has revised the safety requirements within its guidelines for ships using methanol, ethanol and hydrogen as marine fuels. 

In Part D of the guidelines, covering hydrogen-fuelled ships, the revision incorporates the Interim Guidelines for the Safety of Ships Using Hydrogen as Fuel (MSC.1/Circ.1701) issued by the IMO this year, and additionally introduces a hydrogen leak frequency table that can be used for the safety assessments required under the IMO guidelines. 

In Part A, covering methanol and ethanol-fuelled ships, new structural strength requirements for methanol/ethanol fuel tanks—which are not addressed in the IMO guidelines—have been established. 

“Through this revision, shipyards, designers, and shipowners can carry out design and safety assessments in line with the latest international standards, and by utilizing ClassNK’s own leak frequency estimates and the relevant requirements, they can proceed the development of alternative-fuelled ships in a more rationally,” ClassNK said in a statement. 

As the building of alternative-fuelled ships advances in response to the global challenge of reducing GHG emissions, ClassNK has comprehensively compiled the safety requirements for ships using methanol, ethanol, LPG, ammonia, and hydrogen—fuels regarded as promising alternatives—and has issued the guidelines. 

“Taking into account the risks that the use of alternative fuels poses to the environment, seafarers, and ships, the guidelines set out requirements for equipment, controls, and safety devices to minimize such risks,” it added. 

With the issuance of the IMO guidelines for hydrogen-fueled ships (MSC.1/Circ.1701), ClassNK said it has fully incorporated the IMO guidelines to make the guidelines more user-friendly for shipyards, designers, and shipowners, while also enhancing the requirements serving as design and assessment guidance for other alternative fuels. 

In the development of the IMO guidelines, now reflected in Part D, ClassNK participated as a member of the Japanese delegation to the IMO Sub-Committee CCC 11 and contributed to the discussions.

Note: The Guidelines for Ships Using Alternative Fuels (Edition 3.1)  can be viewed under “Guidelines” on My Page by registering as a user on the ClassNK website. 

 

Photo credit: Venti Views on Unsplash
Published: 20 August, 2026

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Bunker Fuel

Panama bunker fuel sales climb 10.5% on year in July 2026

Total bunker sales at Panama was 427,985 mt in July 2026, compared to sales of 387,152 mt during the similar period in 2025, according to PMA data.

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RESIZED Panama

Bunker fuel sales at Panama rose 10.5% year-on-year in July 2026, according to the latest data from La Autoridad Maritima de Panama, also known as the Panama Maritime Authority (PMA).

Total bunker sales at Panama was 427,985 metric tonnes (mt) in July 2026, compared to sales of 387,152 mt during the similar period in 2025.

In July 2026, the Pacific side of Panama posted bunker sales of 362,826 mt; 224,829 mt of VLSFO, 103,127 mt of RMG 380, 4,978 mt for marine gas oil (MGO), and 29,892 mt of low sulphur marine gas oil (LSMGO) were delivered.

The similar region saw total marine sales of 316,932 mt a year before in July; with VLSFO sales at 205,610 mt, RMG 380 sales at 80,850 mt, MGO sales at 2,624 mt, and 27,848 mt of LSMGO being sold.

Panama’s Atlantic side, meanwhile, recorded total bunker fuel sales of 65,159 during July 2026; the figure comprised 52,759 mt of VLSFO, 2,869 mt of RMG 380, 2,972 mt of MGO, and 6,559 mt of LSMGO.

It saw total sales of 70,220 mt in July a year before; with VLSFO sales of 53,868 mt, RMG 380 sales of 6,042 mt, 1,659 mt of MGO, and LSMGO sales of 8,651 mt.

 

Photo credit: George Keel
Published: 20 August, 2026

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Decarbonisation

CSA and MFA partner to support shipowners, bunker suppliers on emissions compliance

Clean Shipping Alliance and the Marine Fuels Alliance signed a MoU to also advance transition to alternative bunker fuels and emissions reduction technologies.

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CSA and MFA partner to support shipowners, bunker suppliers on emissions compliance

The Clean Shipping Alliance (CSA) and the Marine Fuels Alliance (MFA) on Wednesday (19 August) said they have signed a Memorandum of Understanding (MoU) to support the shipping industry and bunker suppliers in meeting regulatory requirements on emissions, and to advance the transition to alternative fuels and emissions reduction technologies.

The agreement will see CSA’s expertise in exhaust gas cleaning systems and marine environmental technology brought together with MFA’s network and knowledge across the marine fuels supply chain. 

Both organisations share an interest in supporting the maritime industry’s transition toward a sustainable, compliant and lower-emission future, and the agreement sets out a structure for the two bodies to share technical insight and coordinate on regulatory pathways.

Through the collaboration, the two associations intend to encourage dialogue between technology providers, fuel suppliers and ship operators, share technical insights and support the development of practical regulatory pathways.

Under this framework, the two associations will:

  • Share technical data and research: on MARPOL compliance, alternative fuels and emissions reduction technologies.
  • Coordinate joint advocacy: including at the International Maritime Organization (IMO) level and alongside sessions of the IMO’s Marine Environment Protection Committee (MEPC).
  • Support industry events: on fleet modernisation, retrofitting and fuel quality standards.
  • Develop practical operational guidance: linking technology providers, fuel suppliers and ship operators.

Andreas Chrysostomou, Executive Director of the Clean Shipping Alliance, said: “Shipping’s compliance and availability challenges won’t be solved by one technology or one fuel. It needs ongoing communication between different elements of the value chain, and that’s why CSA and MFA have signed this MoU. Technologies, fuels and regulation cannot be considered in isolation, and by working together we can bring together complementary expertise, improve the exchange of technical knowledge and contribute to solutions that are both environmentally effective and operationally realistic.”

Anthony Mollet, Executive Officer of the Marine Fuels Alliance, said: “The CSA brings a wealth of technical knowledge and first-hand industry experience, particularly in relation to emissions, environmental regulation and the technologies being adopted by shipowners and operators. This partnership will give our members an important additional source of expertise and insight, helping them better understand the challenges facing the industry and make informed decisions as the transition towards cleaner shipping continues.

“For companies across the contractual chain in bunkers, it is increasingly important to understand the decisions being made by shipowners and operators around fuel choice, emissions technologies and the future fuels they intend to use. 

“The selection of a particular fuel grade or technology can have significant implications throughout the bunker supply chain, from contractual arrangements and fuel specifications to supply and operational considerations. This is a key area of focus for the MFA, and we are committed to providing our members with clear, practical and relevant resources to help them navigate these developments.”

The non-binding MoU will initially remain in effect for two years, with both associations designating points of contact to coordinate joint initiatives and regularly review the collaboration.

 

Photo credit: Clean Shipping Alliance and Marine Fuels Alliance
Published: 20 August, 2026

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