The Signing Ceremony Of Collaboration Agreement Between S.P. Satria Logistics Sdn Bhd And Petro Summit Pte Ltd

S.P. Satria Logistics Sdn Bhd (SPSL), a wholly-owned subsidiary of Sabah Ports Sdn Bhd (Sabah Ports), signed a collaboration agreement with Petro Summit Pte Ltd, a wholly-owned subsidiary of Sumitomo Corporation, in Kota Kinabalu on 21st October 2013 for the supply of marine bunker fuel in the territorial waters and ports of Sabah.

The signing of this agreement between SPSL and Petro Summit Pte Ltd marked a new milestone not only for both companies but also for Sabah Ports Sdn Bhd in developing Sabah to be a new regional bunkering hub within the Brunei Darussalam-Indonesia-Malaysia-Philippines – East ASEAN Growth Area (BIMP-Eaga) economic zone.

SPSL is the sole bunker provider for Sabah Ports, a wholly-owned subsidiary of Suria Capital Holdings Berhad.  Under the port privatization agreement, Sabah Ports was entrusted to operate the eight major ports of Sabah which include Kota Kinabalu Port, Sapangar Bay Container Port, Sapangar Bay Oil Terminal, Sandakan Port, Tawau Port, Lahad Datu Port, Kunak Port and Kudat Port.  Bunkering is part of the port undertakings licensed to Sabah Ports under the privatization agreement between Sabah Port Authority and Suria Capital Holdings Berhad.

Petro Summit Pte Ltd is a Singapore-based company, having its principal business trading activities in crude oil, middle distillate, fuel oil and supplying of marine bunker fuel for ships.

Under the agreement, both SPSL and Petro Summit will conduct joint marketing and sales of marine bunker fuel supply for ships calling and passing all Sabah ports from Sipitang, Kota Kinabalu, Kudat, Sandakan, Lahad Datu, Kunak and Tawau.  Petro Summit will gather international clients for bunker lifting in Sabah while SPSL will focus on the domestics and regional demands.

SPSL and Petro Summit have appointed a local-based company, Seawave Trans Marine Sdn Bhd to carry out transportation of marine bunker fuel from and out of Sabah to its territory for supply of marine bunker fuel to its customers.

This collaboration will help to ensure the availability of marine bunker fuel supply in all ports of Sabah.  It is also expected to have more port calls from foreign vessels such that they would make Sabah as their home port.  This new business will spin off other business activities in the marine industries in general and in particular the port activities of Sabah Ports.  The collaboration is also hoped to eventually generate further growth to the economy of Sabah.

At the signing ceremony, SPSL was represented by its Chairman, Datuk Dr Mohd Fowzi Haji Razi while Petro Summit Pte. Ltd by its Managing Director, Mr Yoshihiko Hori.

21 October 2013