Ceylon Bunkering to re-enter lucrative bunkering business

Sri Lanka’s Secretary to the Ministry of Petroleum Industries, Titus Jayawardene, has ordered the Ceylon Bunkering Corporation (CPC), a state-run oil utility to recommence operations in Colombo Port at “the earliest possible instance.” This information comes from a high ranking official of the Petroleum Industries Ministry. It is surmised that Ceypetco Marine Services Ltd., a defunct subsidiary of CPC, will be revived to run the marine oil supply business. Currently, the competition operating in Colombo Port are a subsidiary of Sri Lanka Shipping Company – Lanka Maritime Services, Lanka Maritime Services of John Keels Holding PLC, and the state-run oil giant Lanka IOC PLC (LIOC). LIOC has the major market share of the business. It is unclear what the operational strategies will be for CPC to re-enter the market, as currently CPC does not have oil supply vessels or barges. (February 24, 2011)