EMEA News
Mauritius Plans to Triple Bunker Volumes
The Indian Ocean island nation of Mauritius wants to triple its bunker volumes "in the medium term," which now stand at 300,000 tonnes, according to a budget plan released by Charles Gaetan Xavier-Luc Duval, minister of finance and economic development.
The plan calls for the liberalisation of the bunker trade to reduce the price of marine fuel, as well as expanding associated industries such as the sale of ships supplies, vessel repairs and maintenance, crew management, and ship leasing.
"We are impressed by the keen interests of international companies to invest in bunkering and oil storage," Duval said in the document.
"It is an opportunity that we should not miss."
The demand for bunkering in the region is expected to rise to 8.6 million tonnes.
The plan calls for breaking the State Trading Corporation (STC)'s current monopoly on the import of petroleum products, which it predicts will increase ship calls at Port Louis and bring in private investment of Rs 2.5 billion ($81 million).
It also predicts an increase in storage capacity from 120,000 tonnes to 270,000 tonnes by 2016.
Other elements of the plan include developing the nation as a petroleum hub, with a fully functional petroleum terminal and increased storage for automotive fuel and gas oil, as well as the construction of a cruise terminal and expansion of other port facilities.
Engen Petroleum (Mauritius) Ltd (Engen Petroleum) told Ship & Bunker last month that it has expanded its operations at Port Louis.
