Benalec Holdings Berhad has announced the acceptance of a Letter of Acceptance from TNB Fuel Services Sdn Bhd for the carriage of bulk coal for two years, commencing on June 2025, and ending on June 2027. It also includes an option for an additional one-year extension, subject to mutual agreement between both parties.
Under the terms of the agreement, Benalec Sdn Bhd will transport a substantial quantity of 3,500,000 metric tonnes of coal per annum, with a flexibility of ±20% at TNB Fuel’s option. The freight rates for the voyages, from identified loading ports to discharging ports, will range from USD4.84 to USD88.75 per metric tonne. Settlements in Malaysian Ringgit will be based on the middle rate of exchange quoted by Bank Negara Malaysia at closing business on the bill of lading date.
Benalec Holdings Berhad’s Board of Directors expects this contract to contribute positively to the company’s earnings and net assets for the financial year ending December 31, 2025, and onwards until the contract’s completion. The company stated that the contract would not affect its share capital or shareholding structure.