Asia/Pacific News
Sri Lanka Seeking Strong Player to Sell Bunkers at Hambantota
The Sri Lanka Ports Authority (SLPA) says it is looking for a strong player to restart its bunkering activities at Hambantota, according to local media reports.
"What we are looking for is an investor who will develop that industry," SLPA Chairman Dhammika Ranatunga was quoted as saying.
"It has to be a strong player with competitive pricing."
Several players have already shown interest and SLPA will call for requests for proposals later in January, according to reports.
"Bunkering is not a core business for the port authority, we are looking with a party who has special ability to do that," Ranatunga said.
Ship & Bunker reported last week SLPA said it will restart bunkering at the port in an effort to help repay debt accrued for the port's construction, but it was unclear at the time if the plans would involve private sector players.
Bunkering at Hambantota, which had previously been run by the SLPA, was suspended last year after "irregularities" left it with a large quantity of overpriced, low demand product, which ultimately resulted in a $19.9 million loss for the port.
Ship & Bunker reported in April last year the Authority was seeking a private sector "bail out" for the port's bunkering operations.
