Business

Tumpuan Megah Development to collaborate with Petronas for bunker deliveries

Straits has obtained approval in its recent AGM on 24 June 2021 to change its name from Straits Inter Logistics Berhad to Straits Energy Resources Berhad.

Published

5 years ago

July 6, 2021

Admin

Malaysia-listed Straits Inter Logistics Berhad (Straits), through its 70% owned bunkering subsidiary Tumpuan Megah Development Sdn Bhd (TMD), has entered into a collaboration agreement with Petronas Dagangan Berhad (PDB) to provide marine fuel oil to vessels within all ports in Malaysia.

PDB is the principal marketing arm of Petroliam Nasional Berhad (Petronas).

The venture will be hugely synergistic and value-adding to both parties, said Straits in a statement on Monday (5 July).

“This tie-up with Petronas Dagangan Berhad marks a significant milestone for Straits as it has brought two strategic companies together for collaboration on provision of marine fuel oil to the many vessels in Malaysian waters,” said Straits’ Group Managing Director Dato Sri Ho Kam Choy.

“We are very proud to be given the opportunity by an established and reputable company like PDB to work with them to further grow and tap the vast marine fuel oil market in Malaysia. This initiative will allow further business expansion for both parties and to enhance users’ experience.”

Dato Sri Ron Ho further added: “Straits has obtained shareholders’ approval in its recent AGM on 24 June 2021 to change its name from Straits Inter Logistics Berhad to Straits Energy Resources Berhad. The application for name change will be made to Suruhanjaya Syarikat Malaysia (SSM) in due course. Its purpose is to further reflect on the Group’s fast-growing business as it explores more synergistic opportunities in the sustainable energy and alternative energy space.”

Manifold Times earlier reported Straits posting a 26% rise on year in profit.

Photo credit: Straits Inter Logistics Berhad
Published: 6 July, 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