June 05, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, has started a marine bunkering operation by supplying diesel to ships off the east coast of the island, an official said. “We made a humble beginning using our facilities in Trincomalee by offering bunkering services selling diesel oil to two vessels a week ago,” Lanka IOC Managing Director K. Ramakrishnan said.
The company has spent around 10 million dollars on its marine bunkering business which it shares with Lanka Marine Services and Lanka Maritime Services.
Lanka IOC has a third of the petroleum distribution market in Sri Lanka. It also has a share in the lubricant market, and has started a blending plant in Trincomalee where it has a tank farm.