Straits Inter Logistics is branching out into the bunkering market and expects 90% of revenue to from this segment with the acquisition of its two new bunker vessels is completed in the early part of the fourth quarter.
Financially strapped Malaysian offshore player Nam Cheong Ltd (NCL) has been hit with a Writ of Summons by creditor AmBank.
The outlook for the offshore marine sector will continue to be tough for the remainder of 2017 as oil prices have not firmed in tandem with crude oil production cuts, according to Malaysia Marine and Heavy Engineering (MMHE), which saw its losses widened in the first half.
MMC Corp said it still plans to list its port unit at the end of next year or in early 2019.
The oil and gas (O&G) industry environment remains challenging with increased competition in the services segment due to the widespread cuts in capital expenditure, says Sapura Energy.
Congestion at Westports peaked over the weekend according to local media reports, with some truckers reporting an up to eight-hour wait to clear Customs.