Fleet Expansion

(From L-R) Hussain Sadique –Chairman, SLRA / Group Director, Hameedia, Mano Tittawella –Senior Advisor, Ministry of Finance & Media, Ajith Amarasekera- Director, SLRA / CEO Swarnamahal, Leonard Michael Perera, Founder Convenor & Head of Business, SLRA Dinesh Perera-Director, SLRA / Deputy Director, Abans

June 20, 2014 (LBO) – Sri Lanka state-run Ceylon Shipping Lines will buy a tanker to transport crude in addition to two bulk carriers, as part of building up a plan to become a shipping hub, information minister Keheliya Rambukwelle said. Until the shipping line has sufficient capacity it will be given a commission of about a one US dollar per tonne for freight (about 5 percent freight charge) contracted from third party carriers.

The new vessels will also be used to train cadets from Sri Lanka’s maritime academies.

Sri Lanka’s state transport utilities on road, rail and the air have been making big losses and have drawn criticism for their heavy burden on tax payers.

Cabinet approval has been given to buy a tanker to transport crude for Ceylon Petroleum Corporation following an agreement with the petroleum utility.

Ceylon Shipping Lines had been given a monopoly to transport crude and coal. The energy utilities tender for the fuel free on board (FOB) without freight.

Two 63,000 dead weight ton bulk carriers are expected to be delivered in 2015 and 2016,a state firm coming under the power ministry. Their purchase is being financed by a loan from state-run People’s Bank.

CSL has been transporting coal for La