Asia

Scomi Energy secures bulk shipping contract

Kuala Lumpur: Scomi Energy Services announced that it has received a letter of award from TNB Fuel Services, a wholly-owned subsidiary of Tenaga Nasional Bhd, for a contract of affreightment for carriage of bulk coal valued at RM175.4m for two years commencing from May 1, 2015, with an option for TNBF to extend it for another year.

Scomi Energy Services is expected to transport 1.2 million metric tons of coal per year under the contract.

“This contract further strengthens our presence in marine logistics in Malaysia and the region especially in the bulk carrier sector," said Scomi Energy Services ceo Shah Hakim Zain.

"The combination of growing contribution from the marine logistics business and our active bidding for oil and gas contracts would provide us with strong footing to meet the challenging business environment. Our strategy to adopt an asset-light business model also helps us mitigate the impact of sliding oil prices," he added. [08/01/15]

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