KUALA LUMPUR: Straits Inter Logistics Bhd (SIL) received a letter of award from Labuan Port Authority to operate and manage Labuan Liberty Terminal for six years.
SIL, which received the letter on January 20, said the commencement of the services was April 1 this year.
Labuan Liberty Terminal is situated on an island off Labuan.
Its berths have a total length of 355.6 meters with alongside depths of between 4.6 meters and 10 meters, and can accommodate a deadweight tonnage of 16,000.
Labuan Port currently receives vessels carrying containers, dry and liquid bulk, general cargoes as well as oil and gas products.
SIL is principally engaged in oil trading and fuel bunkering services and investment holding activities.
Oil bunkering services involve provision of refuelling marine gas oil and marine fuel oil through vessels to other ships and ocean faring vessels such as oil tankers, container vessels, cargo vessels and cruise ships.
SIL said a binding definitive agreement would be entered into with Labuan Port Authority upon acceptance of the letter of award and pending the execution of such agreement, the accepted letter of award shall bind both parties.
A lease deposit payment will be payable to Labuan Port Authority through electronic fund transfer or cheque on or before February 3.
Labuan Port Authority was established in 2017, following the extension of the Bintulu Port Authority Act with core functions include overseeing the trade facilitation, and planning and development of the Labuan Liberty Terminal, as well as regulatory oversight of the facilities and services offered at the Labuan Liberty Terminal.