Mar 13, 2008 (LBO) – Sri Lanka’s Hemas group wants to expand into ships and port operations after its entry to the sector by starting a shipping agency and capitalize on the island’s position on major sea lanes, an official said. . “The group as a policy has decided to invest in the maritime sector,” Head of Shipping at Hemas, Irshad Musheen, said.
“We’re looking at various options such as asset owning and asset management in the maritime sector.”
The group’s foray into power generation is already bringing steady returns.
Hemas has operations in consumer products, healthcare, transportation, and leisure and strategic investments
It is also the agent for airlines and has just acquired its first shipping agency, being appointed agent for Far Shipping Lines (FSL) of Singapore.
FSL operates four feeder services connecting the Indian sub-continent and Arabian Gulf with the transhipment port of Colombo.
Musheen said Hemas would venture further into the maritime sector and is also looking at investing in port terminals in Sri Lanka and abroad.
If fresh bids are called for a container terminal at Colombo port Musheen said Hemas would be interested if it had the right partners in place.