BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry

« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa

BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News

Hambantota goes underwater in August

Hambantota harbour to be filled with water later this month.

Updated on 11 Aug 2010 09:16 GMT

Sri Lanka's Hambantota Harbour is due to be officially filled with water on August 15th, 2010, with President Mahinda Rajapaksa expected to attend as the chief guest.

Several thousand locals have visited the construction site of the Hambantota Harbour over the past few days to see it before water is filled behind the breakwater later this month.

The first vessel is due to arrive at Sri Lanka's new Hambantota Port during the month of November, less than two years after the port development project was initiated.

The China-financed project, which commenced on January 15th 2008 will be the deepest port in the Indian subcontinental region with a draft of 17 metres.

The first phase of the project, which was initially due to be completed by April 15th 2011, has proceeded ahead of schedule despite reports in September 2008 that the project was facing suspension due to a cash flow crisis when project managers China Harbour-Sinohydro Consortium issued a letter to Sri Lanka's Ports and Aviation Minister, Chamal Rajapaksa, demanding payment.

It is hoped that together with Colombo, Hambantota will become a leading port in the country. However, there are also fears that the port may not earn enough to help repay the Chinese loan if cargo volumes are not sufficiently high.

Lack of income could lead to the government requesting that shippers shift container handling from Colombo to Hambantota, which shipping firms may be reluctant to do if it is not economically viable.

Local sources have pointed out that Sri Lanka would not benefit financially from shifting business from Colombo to Hambantota. The country's economy only benefits if Hambantota generates new business.

The new bunkering terminal at Hambantota is expected to provide a major boost to the Sri Lankan bunker market. The terminal will be designed to handle up to 500,000 metric tonnes of oil products a year. Depending on the requirement the terminal can be further expanded up to one million metric tonnes.

Last year the Sri Lankan government confirmed that the country would receive a $US65 million loan from China's Exim Bank to build a bulk storage tank farm in Hambantota that will also be used to store marine fuel.

The new facility will supply and store marine fuel, aviation fuel and LP gas and provide bunkering services for vessels passing by Sri Lanka. It is expected to have a total storage capacity of 82,000 cubic metres.

Related Links:

November completion for Hambantota
SLPA to supply off Hambantota in Q1 2010
Sri Lanka to build bunker storage facility
Bidding interest for new Sri Lanka terminal
Sri Lanka

Latest News:

EGCSA member survey reveals scrubber system increase
Oil and fuel oil hedging market update
Many unresolved issues left for last PPR meeting before 2020: IBIA
Volatility and supply
IBIA calls for bunker sample verification guidelines before 2020
GP Global inks accord to produce and market Cepsa marine lubes in India
Oil and fuel oil hedging market update
North P&I launches guide on avoiding and defending bunker disputes
Build in stockpiles and record high U.S. oil production
IMO working group develops plan to help ships prepare for 2020
Oil and fuel oil hedging market update
ISO statement on ISO 8217:2017 and 0.5% sulphur fuels

Page Links:

Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Cape Town
Las Palmas
New Orleans
Rio de Janeiro
Latest News
Middle East
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Fuel Quality
Lubes & Additives
Oil Spills
Port News
Services, Products, Technology
Statistics & Research
Contact & Terms
Contact Us
Terms & Conditions
Privacy Policy
Upcoming Events