MPRC applauds Platts’ move towards FOB Straits benchmark

August 23, 2015

Why isn’t Abang Yazid a Datuk yet?

Dateline 2015-07-07, The Borneo Post:

The Petroleum Resources Corporation (MPRC) has applauded Platts’ recent move to approve four terminals in southern Malaysia as part of the free-on-board (FOB) Straits oil benchmark pricing which is the process of price assessment for refined oil products.

The four terminals are Pasir Gudang, Tanjung Langsat, Pengerang and Tanjung Bin.

In a statement yesterday, MPRC said with the FOB Straits, market participants would have broader options for loading terminals from which to meet an approved FOB Straits bid.

“As a result, all market participants will benefit from a more efficient market with more transparent price discovery,” it said.

Platts is a global energy, petrochemicals and metals information provider with a premier source of benchmark price reference.


VTTI to complete Phase 2 of Malaysia’s ATT Tanjung Bin oil terminal in Q1 2015

October 1, 2013

Dateline 2013-08-15, Platts:

The second phase of development at the ATT Tanjung Bin, or ATB, oil terminal in Johor, Malaysia, which will add 250,000 cubic meters of storage capacity and an additional berth for Aframax tankers, will be completed in the first quarter of 2015, a company source with the terminal’s owner, VTTI, said Thursday.

This phase will boost the terminal’s storage capacity to about 1.14 million cu m and will add one more berth with similar specifications to its existing No. 2 berth: maximum vessel length of 260 meters, maximum deadweight tonnage at 120,000 mt, allowable draft at berth of 16.7 meters and a maximum manifold height from waterline at 17.45 meters.