KUALA LUMPUR: Straits Energy Resources Bhd's unit, Victoria STS (Labuan) Sdn Bhd, has completed a ship-to-ship (STS) crude oil transfer operation for the first time at Victoria Bay, Labuan.
In a statement today, Victoria STS chief executive officer Benjamin Bernard Bijon said the first-ever STS transfer in Labuan water augured well for developing the island's maritime-related activities.
He said the STS operation involving 580,964 barrels of crude oil (worth approximately US$60 million) from Seria Brunei was completed at one of the six approved berths, located next to the marine park of Kuraman Island.
Bernard added that the crude oil transferred from the Nissos Tinos Majuro vessel to the 330-metre length C Grace vessel is bound for South Korea.
The STS operation was conducted about ten nautical miles from Labuan, considered safe for such operations as the berth area is fit for a huge crude carrier.
"This is the first time such a huge vessel is calling at the Labuan port limit of Victoria Bay with cargo-carrying capacity ranking up to two million barrels of crude oil.
"In terms of safety, we have the technical expertise to run this operation. We adhere to the highest safety standards without compromising the environment and people," he said.
Straits said that the successful completion of the STS transfer is a result of its strategic collaboration with Fendercare Marine (Asia Pacific) Pte Ltd.
Victoria STS is also expected to handle another first-ever STS Transfer of liquefied natural gas (LNG) from Australia at the end of this month.
Victoria STS is an indirect subsidiary of Straits with specialist expertise in offshore handling of liquefied gas and bulk petroleum cargoes.
The company received its first licence from the Marine Department Malaysia on July 31, 2021, to conduct STS operations within the Victoria port limit of Labuan.
Meanwhile, Straits signed heads of agreement with Fendercare Marine on December 15, 2021, to form an exclusive collaboration to provide STS services.
Fendercare Marine combines its synergistic resources and expertise with Straits' to make Victoria Bay Port Limit, Labuan, the preferred STS energy transhipment hub in Asia.