ECONOMYNEXT – Laugfs Terminals Ltd at Hambantota port, a unit of Sri Lanka’s publicly traded Laugfs group said it had handled 413,000 metric tonnes of liquefied petroleum gas since starting 14 months ago and 60 per cent as re-exports.
The terminal can import butane and propane, mix them to make LPG and sell domestically or re-export.
The installed capacity of 30,000 MT can be turned around three times a month as transhipments, by way of import, storage, mixing of elements of Propane and Butane and exports to identified markets.
The 100the ship call had been made at the Hambantota Terminal in September.
Since opening in July 2019, the terminal had handled 413,000 MT of fuel valued at 175 million dollars with 60 per cent exported to Bangladesh, Maldives and India.
“This will hopefully be a major export sector in the country in the time to come,” Laugfs said.
“At the moment, the terminal records an average of 15 – 20 ship calls per month and it will soon be increased up to 30 ship calls per month and it will be a situation of at least one ship will either be loading or unloading of LPG cargo at the terminals per day”.
Laugfs said it operated despite oil price volatility, US-China trade dispute, drone attacks on Saudi Aramco facilities and the Coronavirus crisis.
The firm said it had faced issues from regulatory authorities, environmental bodies, funding institution as well as unspecified retaliatory moves from competitions engaged in midstream LPG markets. (Colombo/Sept18/2020-sb)