Malaysia's bunker market has expanded in recent years in tandem with growing volumes in nearby Singapore. File Image / Pixabay
Malaysian bunker supplier Straits Energy Resources, formerly known as Straits Inter Logistics, is set to add a bunker barge to one of its subsidiaries' operations in the country.
Straits subsidiary SMF Beluga has agreed to acquire the 7,820 DWT bunker delivery vessel Empower from Adamas Marine for $3.5 million, the company said in an exchange filing on Monday.
The acquisition will allow the company "to expand the business of SMF, especially in the supply of low sulfur fuel to cater to the increasing demand in Malaysia," the company said in the notice.
Malaysia's bunker market has expanded in recent years in tandem with growing volumes in nearby Singapore, the world's largest marine fuels hub.