LABUAN: Labuan is poised to become a leading ship-to-ship energy transhipment hub in Asia within a year or so.
Straits Inter Logistics Sdn Bhd (Straits) will develop this advanced integrated marine facility for Victoria STS (Labuan) Sdn Bhd which received approval from the Federal Marine Department.
It will be located within the port limit of Victoria Bay deepwater spanning 3,309 hectares. An initial six berths will operate in safe water depth of up to 30 metres.
According to a media statement released by Straits in Kuala Lumpur, the flagship project of the company will have state-of-the-art multifunctional transhipment facilities that would be able to accommodate Liquefied Natural Gas (LNG) carriers up to the size of Q-max and Very Large Crude Carriers (VLCCs).
As Victoria Bay is strategically located along the international shipping and energy routes, Straits plans to develop the new STS hub to be the largest offshore LNG and Liquefied Petroleum Gas (LPG) energy hub of Asia.
Some results are to be seen before end of the year.
Based on the corporate chart, Straits 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.
The Labuan Port is managed and operated by Megah Port Management (MPM) Sdn Bhd, which is another 51pc owned subsidiary of Straits.
MPM Chief Operating Officer (COO) Datuk Seri Patrick Tiong who is also involved in the project, when contacted, said he was aware of the new development and described it as tapping the full potential of Labuan’s natural deepwater port.
“The project will have definite spill-over benefits to the local economy by way of more job opportunities for skilled and semi-skilled workers in marine-related services as well as other benefits.
“The marine profile of Labuan would also be elevated when the facility is fully completed.”
To ensure success of the project, Straits has entered into a strategic alliance with two key players in the industry for the development of the hub. – DE
