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The marine bunkering business is where the real upside sits. Tanjung Bruas Port marine fuel hub targeting first half 2026 operations, this is huge because the Strait of Melaka sees ~80,000+ vessel transits per year.
Bunker fuel demand for that vessel traffic is structural. PSP being early mover in this segment captures customer relationships before competitors scale. Plus IMO 2030 lower-sulphur fuel regulations mean premium pricing for compliant bunker fuel. The marine segment could become the bigger profit center vs traditional fuel distribution.