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July 27, 2008 LBO) A joint venture between the Ceylon Shipping Corporation (CSC) and Greek firm Ariston Oil and Shipping (Pvt) has won a license to supply bunkers or ship fuel in Sri Lankan waters. The license was granted to CSC Kandia (Pvt) Ltd by the Ministry of
Petroleum and Petroleum Resources Development, a company statement said.

The licence allows CSC Kandia to import, store, distribute and supply
petroleum fuel to ships entering Sri Lankan waters.

It said the government was keen to revive the state-owned CSC, the island’s national shipping line.

It once had a small fleet of cargo vessels which has now dwindled to only two small ships that have been hired out.

The CSC was for years a loss-making company but has now been turned into a profitable firm.

Ariston Oil and Shipping is part of the group owned by Greek shipping tycoon Pyrros Vardirioyannis, whose family has a long maritime business tradition.