KUALA LUMPUR, Aug 2 — Straits Inter Logistics Bhd’s unit Victoria STS (Labuan) Sdn Bhd will commence operations to develop an integrated offshore ship-to-ship (STS) transhipment hub in Labuan in the fourth quarter of 2021 (Q4 2021).
In a statement today, Straits said the approval to commence operations had been received from the Marine Department Malaysia on July 30, 2021.
Victoria STS is a 70 per cent owned subsidiary of Fajar Maritime and Logistics Sdn Bhd, which in turn is a 60 per cent owned subsidiary of Straits, which is an oil trading and fuel bunkering service provider.
The group said Victoria STS also received approval from Marine Department Malaysia on the Marine Risk Assessment, which is a structured and systematic methodology aimed at enhancing maritime safety.
“The assessment was done as part of the requirements to complied before Jan 8, 2022 to develop an integrated offshore STS energy transhipment hub within the port limits of Victoria Bay, Labuan,” it noted.
The group said the STS energy transhipment hub includes setting up key facilities and equipment such as tugboats, pneumatic fenders liquefied natural gas (LNG) cryogenic equipment and single point mooring system.
The Marine Department Malaysia had on July 12, 2021 granted the company approval to develop the STS as announced to Bursa Malaysia.
The STS hub will be Straits’ flagship energy project which will be located within the port limits of Victoria Bay deepwater area spanning 3,309 hectares supporting an initial six STS berths with safe water depths of up to 30 metres, the group said.
Managing director Datuk Seri Ron Ho Kam Choy said since the announcement, the STS transhipment hub had received numerous enquiries from both notable international and local entities that are interested in partnering with the group for the project.
“We are engaged in discussion with many parties in preparation for this project and Straits is gearing to kickstart this within the next few months.
“The other entities within the Straits group will also stand to benefit from the project’s spin-offs,” he added. — Bernama
