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Mon 28 Jul 2008, 10:11 GMT

Sri Lankan firm awarded bunker license


New Sri Lankan joint venture is granted license to carry out bunkering operations.

CSC Kandia (Pvt) Ltd, a joint venture company between Ceylon Shipping Corporation Ltd. (CSC) and Ariston Oil and Shipping (Pvt) Ltd, has been awarded License by The Ministry of Petroleum and Petroleum Resources development to carry out bunkering operations in Sri Lanka.

According to Y. L.S. Hameed, Chairman of the Ceylon Shipping Corporation Ltd., the Licence, which is pending approval from the Board Of Investment (BOI), will permit CSC Kandia (Pvt) Ltd., to import, store, distribute and supply petroleum fuel to ships entering Sri Lankan waters.

“The awarding of Bunkering License is another very important milestone in an ambitious journey embarked upon by the new management team appointed by the Hon. Chamal Rajapakse, Minister of Ports & Aviation with a view Ceylon Shipping Corporation Ltd” said Executive Director Mayantha Dissanayake.

“We have been given a clear mandate to revitalize CSC and with the blessings of the Hon. Minister, we continue to seek innovative methods of further improving our business. The team headed by Mr.Hameed and myself have found an ideal partner for this operation in Ariston Oil and Shipping (Pvt) Ltd given the backing of their parent company which has 45 years of experience and expertise in the oil and shipping industry and most importantly the resources and access to key decision makers globally in this sector," said Dissanayake.

"These efforts are in line with the vision of His Excellency the President, Mahinda Rajapakse, to develop the maritime industry in Sri Lanka to the highest international standards using country’s key advantage of strategic location” he added.

Speaking about the joint venture, Davina Valaydon, Director of Ariston Oil and Shipping said “The direct involvement of Mr. Pyrros Vardinoyannis, the Chairman of Ariston Oil and Shipping (Pvt) Ltd who hails from a well reputed Greek family with a long maritime business tradition established by his late father, Nicos Vardinoyannis, will further strengthen the ambitious plans of the Ceylon Shipping Corporation Ltd.”

According to Valaydon, Ariston Oil and Shipping will work hand in hand with Ceylon Shipping Corporation on a number of different projects, which will help develop the industry and earn foreign exchange to the country.
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