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Straits Inter Logistics subsidiary Beluga Asia acquires bunker tanker to increase service availability

Beluga Asia has entered into a Memorandum of Agreement with Sun Marine Corporation to acquire bunker tanker M.T. MA Veronica for USD 2.45 million.
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M.T. MA Veronica

Malaysia-listed Straits Inter Logistics Berhad (SIL), principally engaged in oil trading, bunkering and investment holding activities, on Friday (24 July) said Beluga Asia, has entered into a Memorandum of Agreement (MOA) with Sun Marine Corporation (SMC) to acquire a vessel named M.T. MA Veronica.

Beluga Asia is an investment holding company, a wholly owned subsidiary of Tumpuan Megah Development Berhad (TMD) which in turn, is a 55% owned subsidiary of SIL.

SMC is a shipping services company based in the Philippines. 

The purchase consideration of the transaction is USD 2.45 million (MYR10 million) to be fulfilled entirely via cash financed through internally generated funds, it said.

The purchase consideration of USD2,450,000 was arrived at, on a willing-buyer willing-seller basis, after taking into consideration the market value of M.T. MA Veronica of USD3.5 million as ascribed by the appointed independent registered valuer, BMI Appraisals Limited using the comparison method as stated in its valuation certificate dated 18 March 2020, noted SIL.

The purchase consideration represents a discount of approximately 30.0% over the Market Value as ascribed by the independent registered valuer. 

The acquisition will enable Beluga Asia to own a vessel at a discount to its Market Value for its business requirements without having the need to lease or charter from other vessel owners or operators, explained SIL.

The addition of M.T. MA Veronica will enlarge the asset base of SIL and would provide the group with the flexibility in respect of its allocation and utilization of vessels in undertaking its business activities.

Further, the vessel will be chartered to Tumpuan Megah for its business activities, which mainly caters for the demand for the trading of marine fuel oil as well as the provision of oil bunkering services of marine fuel oil.

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. MA Veronica
Type Oil tanker
International Maritime Organisation

(“IMO”) number

 9501631
Flag Philippines
Place of Registry Batangas
Year of Build 2008
Age 12 years
Builder’s name Taizhou Yuan Hang Shipyard, China
Deadweight Tonnage 4,711 metric tonnes
Gross tonnage 2,990 metric tonnes
Net tonnage 1,321 metric tonnes
Length over all / Depth / Breadth

(metres)

 99.86/ 7.60/ 15.20
Registered owner Sun Marine Corporation (SMC)
Current use Provision of oil bunkering services

 


Photo credit: Straits Inter Logistics Berhad
Published: 27 July, 2020

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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.
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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

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“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.
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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. 

Related: Fratelli Cosulich launches second methanol-ready bunker tanker in China

 

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

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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.
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July 3, 2026

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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.

Related: Glencore acquires majority stake in Dutch biofuel supplier FincoEnergies

 

Photo credit: FincoEnergies
Published: 3 July, 2026

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