Asia/Pacific News
New Malaysian Player Aiming to Be "Premium" Bunker Suppler
Raya International Bhd (Raya) has rebranded as Straits Inter Logistics Bhd (Straits) as part of the company's move into bunkering, with the new player looks to position itself as a "premium" bunker supplier, local media reports.
"Moving forward, Straits is positioning itself as a major marine logistics company in the provision of premium oil bunkering services to marine and cargo bulk transporters, oil and gas vessels, floating production storage and offloading vessels, cruise ships and ferries," the Star quoted executive director Datuk Seri Ho Kam Choy as saying.
"We are currently involved in offshore oil trading and expect to commence oil bunkering services by early fourth-quarter 2017 with the acquisition of our first two vessels."
As Ship & Bunker reported last year, in June 2016 shareholders approved a proposal for the company to move into the marine fuel markets, having previously been involved in several unrelated areas including air and water filtration system, and beauty and healthcare product trading.
The company since moved into oil trading, and now expects some 90% of its revenues to come from the new ventures including the bunker operation, according to reports.
Straits will initially focus its bunker supply operation on Pasir Gudang Port and Johor, and the company is looking to expand to Kemaman, Kuantan, and Labuan Port.
"The maritime industry plays a pivotal role in facilitating Malaysia's growing trade, leading to it being ranked among the world's major trading nations, and it is our intention to provide a crucial support to Malaysia maritime infrastructure and transportation," said Ho as quoted by The Star.
