TMD Energy Ltd.

General Information
Business:

(Incorporated in the Cayman Islands)

We are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. We are also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering.

For our bunkering services, we provide offshore bunkering services which involve STS transfer of marine fuels. We operate in 19 ports across Malaysia, and we operate under a fleet of 15 bunkering vessels to provide STS transfer of marine fuels. The marine fuel we provide to our customers is procured from our suppliers including energy companies, national oil companies, oil traders and oil refineries.

We are currently operating with 15 well-maintained bunkering vessels ranging from 540 dwt to 7,820 dwt, of which nine (9) are double bottom and double hull vessels with an average cargo-carrying capacity of approximately 4,200 dwt each. Our comprehensive range of bunkering services caters to various types of seafaring vessels, including container vessels, oil tankers, cruise ships, and accommodation work barges such as floating production storage and offloading units and floating storage and offloading units, supply and support vessels such as platform supply vessels and research vessels. Additionally, we provide fueling services to offshore structures such as semi-submersible rigs, jack-up rigs and drillships.

Our customer base is diverse and includes oil and gas companies, shipping companies, maritime transport and logistics companies, charterers, fishing vessels, naval and military vessels, as well as passenger transport vehicles such as cruise ships. We are committed to delivering high-quality marine fuel products and reliable bunkering services to meet the specific requirements of our valued customers in the maritime industry.

Our supporting services include ship management services for in-house and external vessels whereby we will undertake operational management, technical management, and crewing for the vessel. Additionally, we also carry out vessel chartering services in-house and provide the services to external parties. We will also charter our vessels to our subsidiaries based on its requirements.

To ensure reliable and timely fuel delivery, we utilize our fleet of bunkering vessels exclusively for our own physical delivery operations. We do not typically charter them out to external parties. This level of control allows us to maintain a high degree of oversight and optimize our operations to meet the specific demands of our customers. The management of our technical ship operations is conducted in-house, which enables us to uphold our standards of customer service. By managing these operations internally, we can ensure that our vessels are well-maintained and operated to the highest standards.

Note: Net income and revenue are in U.S. dollars (converted from Singapore dollars) for the 12 months that ended June 30, 2024.

(Note: TMD Energy Ltd. priced its small-cap IPO at $3.25 – the low end of its $3.25-to-$3.75 price range – and sold 3.1 million shares to raise $10.08 million, the company said on Monday, April 21, 2025. Background: TMD Energy Ltd. is offering 3.1 million shares at a price range of $3.25 to $3.75 to raise $10.85 million, according to its F-1/A filing dated Feb. 27, 2025.)

Industry: Marine Fuel Bunkering
Employees: 65
Founded: 2016
Contact Information
Address B-10-06, Block B, Plaza Mont Kiara No. 2, Jalan Kiara, Mont Kiara 50480 Kuala Lumpur Wilayah Persekutuan, West Malaysia
Phone Number +603 – 6419 1266
Web Address https://www.tmdel.com./
View Prospectus: TMD Energy Ltd.
Financial Information
Market Cap $80.85mil
Revenues $553.2 mil (last 12 months)
Net Income $1.93 mil (last 12 months)
IPO Profile
Symbol TMDE
Exchange NYSE - American
Shares (millions): 3.1
Price range $3.25 - $3.25
Est. $ Volume $10.1 mil
Manager / Joint Managers Maxim Group
CO-Managers
Expected To Trade: 4/21/2025
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change