Asia/Pacific News
Lanka IOC Eyes Bunkering Expansion at Trincomalee
Lanka IOC PLC (Lanka IOC), Sri Lankan subsidiary of India's largest oil refiner Indian Oil Corporation Ltd, is looking to expand their bunkering operations at the Port of Trincomalee, Sri Lankan media reports.
As Ship & Bunker has previously reported, the company commenced bunkering operations from its Trincomolee oil terminal in June 2015.
The company is said to currently operate one bunker barge with a 400 metric tonne (mt) capacity of 380 cSt and 400 mt capacity of MGO.
The company is reported to have seen a bunkering volume growth of 20 percent during the 2015/2016 financial year, although a reduction in international prices has been cited as the cause of a 31 percent decline in revenue during the same period.
Last year, Lanka IOC said it was aiming to sell 10,000 mt of MGO and 380 cSt by the end of 2015.
