{"id":484,"date":"2019-04-05T16:40:00","date_gmt":"2019-04-05T15:40:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/coastlink\/2019\/04\/05\/hph-seals-deal-for-worlds-largest-sts-hub\/"},"modified":"2019-04-05T16:40:00","modified_gmt":"2019-04-05T15:40:00","slug":"hph-seals-deal-for-worlds-largest-sts-hub","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/coastlink\/2019\/04\/05\/hph-seals-deal-for-worlds-largest-sts-hub\/","title":{"rendered":"HPH seals deal for worlds largest STS hub"},"content":{"rendered":"<p>The hub will be located in the Johor Bahru Port waters, spanning an area of 2,800 acres. It will be able to accommodate 31 berths, making it the largest in the world. It will also be the first fully-dedicated STS transfer facility in the world.<\/p>\n<p>Petra will have a 70% interest in the project, while Hutchison Ports will take a strategic 30% stake, KA said in a statement.<\/p>\n<p>\u201cBased on preliminary studies, construction of the STS Hub is estimated to cost $150m\u2013$180m and will be funded by a combination of internally-generated funds and debt-financing. Construction will be done in phases with commencement within the next 12 months,\u201d the statement added.<\/p>\n<p>Hopes are that the STS Hub will trigger a resurgence of the Malaysia&#8217;s maritime sector.<\/p>\n<p>The STS Hub will have the capacity to store over 9m metric tons of petroleum products, and with the International Maritime Organisation (IMO) implementing IMO 2020, a regulation limiting sulphur content in marine fuels, from January 1, 2020, the STS Hub will be well-positioned to become a major trading hub in the region.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KA Petra Sdn Bhd (KA) has signed an agreement with Hutchison Port Holdings to become a strategic partner in jointly developing the world\u2019s largest ship-to-ship (STS) transfer hub in Malaysia.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[],"sponsor":[],"class_list":["post-484","post","type-post","status-publish","format-standard","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=484"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/484\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=484"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}