Asia/Pacific News
Sri Lanka's Hambantota Port Sees Bunker Demand Opportunity as Suez Return Gathers Pace
Sri Lanka's Hambantota International Port expects bunker demand to grow as container ships gradually return to the Suez Canal route.
A recovery in East-West container shipping could create new opportunities for bunkering and ship supplies, Hambantota International Port Group (HIPG) said in an emailed press release today.
Located about 10 nautical miles from the main East-West shipping route, the port could benefit as vessels shift away from diversions around the Cape of Good Hope.
“As more tonnage returns to the main East–West route, the requirement for services such as bunkering and ship supplies is also likely to grow. Hambantota’s location gives the Port and the surrounding region to serve that wider demand,” Bindu Ranasinghe, General Manager – Commercial and Marketing of HIPG, said.
The port operator has committed $149 million to container handling equipment and plans to increase annual container capacity to two million TEUs in the first quarter of 2027.
Sector specialist Alphaliner reported that container lines have shifted 63% of Far East-Europe capacity back to the Suez Canal route.
Chinese state energy company Sinopec began making wholesale deliveries of bunker fuel to Sri Lanka to supply the Hambantota market in March 2021.
The port added storage capacity for HSFO last year. According to Ship & Bunker prices, HSFO price in Hambantota averaged $846.5/mt last month, compared to $911/mt so far this month.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 932.00 | 0.50 | 1345.00 | 27.00 |
| Rotterdam | 759.00 | 6.00 | 1425.00 | 11.50 |
| Houston | 791.50 | 6.50 | 1417.50 | 9.00 |
| Fujairah | 968.00 | 11.50 | 1735.00 | 58.50 |
| APAC Average | 1005.50 | 4.00 | 1463.00 | 0.50 |
| Global 20 Ports Average | 920.00 | 8.50 | 1552.00 | 19.50 |
| Global 4 Ports Average | 865.50 | 4.50 | 1491.50 | 61.00 |
| Global Average Bunker Price | 962.00 | 3.50 | 1611.50 | 12.50 |
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