Melaka: PSP Energy Bhd is set to expand its marine fuel business with the development of a bunkering hub at Tanjung Bruas Port, Melaka. Group managing director Ong Chee Seng stated that the port facilities are currently under renovation and will form a key part of the company’s strategy to serve vessels on the Strait of Melaka, which experiences a high volume of vessel traffic daily.

According to BERNAMA News Agency, Ong emphasized the significance of the Strait of Melaka as one of the busiest straits in the world, highlighting the strategic decision to establish a hub at Tanjung Bruas Port. The operation is planned to commence in the first half of 2026, as announced at a press conference following PSP Energy’s listing on the ACE Market of Bursa Malaysia.

At the opening bell, PSP Energy debuted at its initial public offering (IPO) price of 16 sen on Bursa Malaysia’s ACE Market, with 14.5 million shares changing hands. Ong mentioned that the Melaka expansion aligns with PSP Energy’s long-term plan to strengthen its regional footprint and capture growing demand for marine fuel.

Ong further explained that Tanjung Bruas Port’s strategic location along major shipping routes positions PSP Energy to capture new demand in one of the region’s most active maritime corridors. As part of its fleet enhancement plan, PSP Energy intends to acquire a new bunker vessel post-listing to support upcoming port-based operations.

The company plans to select a vessel with a capacity below 2,000 tonnes and carrying capacities of two megalitres, preferably a vessel under 15 years old and manufactured in Japan. The expected deployment timeline for the new bunker vessel is within 24 months after the company’s listing. This new addition is expected to complement PSP Energy’s existing three-vessel fleet, which has an aggregate carrying capacity of 2.4 megalitres, enabling the company to service more clients along the Strait of Melaka.