Bunker Business

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

Sept 24, 2008 (LBO) – Ceylon Shipping Corporation (CSC) is considering acquiring its own ship fuel supply vessel to sell bunkers in Colombo port through its joint venture with a Greek shipping family firm.

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“We have started doing bunkering in a small way and are looking at buying a supply barge,” an official at CSC, Sri Lanka’s national shipping line said.

Colombo’s bunker or ship fuel market is becoming more competitive with eight licence holders in the fray.

But only two, the largest supplier, Lanka Marine Services (LMS), and another firm, Sri Lanka Shipping, have supply vessels.

LMS, a unit of conglomerate John Keells Holdings, long held an effective monopoly on ship fuel sales in Colombo and owned the only onshore storage facility until a recent court order to hand it back to the port.

The storage tanks are to become a common user facility available to all licensed suppliers.

The CSC official said the joint venture now sells bunker fuels by sub-contracting orders to the firms with supply vessels.

CSC has set up a company called CSC Kandia, a joint vent