Business

Victoria STS completes its first-ever STS crude oil transfer off Labuan

580,964 barrels of crude oil transferred from “Nissos Tinos Majuro” vessel to the 330-metre length “C. Grace” vessel will be bound for South Korea.

Published

4 years ago

May 12, 2022

Admin

Bursa Malaysia listed company Straits Energy Resources Berhad (Straits) on Wednesday (11 May) said its unit Victoria STS (Labuan) Sdn Bhd (Victoria STS) has successfully completed a ship-to-ship (STS) crude oil transfer operation for the first time ever at Victoria Bay, Labuan.

Victoria STS Chief Executive Officer Benjamin Bernard Bijon said that the first-ever STS transfer in Labuan water augured well for the development of the island’s maritime-related activities.

“The STS operation involving 580,964 barrels of crude oil (worth approximately US$60 million) from Seria Brunei was successfully completed at one of the six approved berths with safe water depth of up to 30 metres, which is located next to the marine park of Kuraman Island,” he said.

The operation, which was carried out smoothly, took approximately 20 hours and was completed early this morning.

Bernard added that the crude oil that was transferred from Nissos Tinos Majuro vessel to the 330-metre length C. Grace vessel is bound for South Korea.

Victoria STS completes its first-ever STS crude oil transfer off Labuan

The STS operation was conducted about 10 nautical miles from Labuan, which is considered safe for such operations as the berth area is fit for a very large crude carrier.

“This is the first time such a huge vessel is calling at the Labuan port limit of Victoria Bay with cargo carrying capacity ranking up to two million barrels of crude oil. In terms of safety, we have the technical expertise to run this operation and we adhere to the highest level of safety standards without compromising on the environment and people,” he added.

The STS operation was witnessed by the Chairman of Labuan Port Authority, Datuk P. Kamalanathan and an entourage of local government dignitaries and officials.

He welcomed the first-ever STS transhipment in Labuan waters and hoped that it will further contribute to the Labuan domestic economy.

Straits said that the successful completion of the STS transfer is a result of its strategic collaboration with Fendercare Marine (Asia Pacific) Pte Ltd.

Straits had signed a Heads of Agreement with Fendercare Marine on 15 December 2021 to form an exclusive collaboration to provide STS services together.

Victoria STS is also expected to handle another first-ever STS Transfer of liquefied natural gas (LNG) from Australia at the end of this month.

Victoria STS is an indirect subsidiary of Straits with specialist expertise in offshore handling of liquefied gas and bulk petroleum cargoes.

The company received its first license from the Marine Department Malaysia on 31 July 2021 to conduct STS operations within the Victoria port limit of Labuan.

Photo credit: Straits Energy Resources Berhad
Published: 12 May, 2022

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