GAC Malaysia, a provider of shipping and logistics solutions in Southeast Asia, has opened a new office in Kota Kinabalu expanding its presence in the region.
More specifically, the new office, is GAC Malaysia’s 14th and it is going to work in close cooperation with its Labuan office in the eastern state of Sabah and provide a wide range of shipping and logistics solutions, including ship agency, bunker fuels and husbandry services, as well as bespoke logistics, warehousing and distribution operations.
Additionally, the opening of the Kota Kinabalu base follows the recent collaboration between Petronas Carigali (PCSB), a wholly-owned subsidiary of Malaysia’s state-owned energy giant Petronas, and the state government of Sabah over the operation of the Samarang offshore oil & gas (O&G) field.
The Samarang field, 50 km off the coast of Sabah, produces approximately 36,000 barrels of O&G equivalent per day and 3.7 million standard cubic meters per day of gas. The fuel is used to support the energy needs of customers in Kota Kinabalu and Labuan.
The Malaysian freight and logistics market is estimated to be worth US$26.35 billion in 2023 and is expected to reach US$35.10 billion by 2029, growing at a CAGR of 4.9% in that period, according to Indian market research firm Mordor Intelligence.
In a bid to support this forecast growth, GAC Malaysia has plans to open more offices in Kuantan and Yan on the Malaysian Peninsular.