Malaysian Player Bags Bargain Bunker Tanker

Friday June 14, 2019

Malaysia-based Straits Marine Fuel & Energy says it has picked up a discount bunker tanker.

The 14-year old Antlia is being purchased via subsidiary SMF Begonia Ltd from Constellation Trading Sdn Bhd for US$4.7 million.

In a company filing today, Straits said the price represented a discount on the vessel's current market value and it would be used to support its fuel oil trading and bunkering efforts, complementing the other nine vessels in its fleet that cater to its MGO needs.

Payment will be made in 61 monthly instalments plus a $900,000 cash deposit.

The acquisition follows an announcement in March that Straits wants help its bunker industry growth by divesting 43% of its new bunker business as part of a plan to collaborate with other industry players.