Sri Lanka ship fuel sales rise sharply

ECONOMYNEXT – Sri Lanka’s bunker fuel sales rose sharply in June 2015 from a year ago with petroleum prices remaining weak and shipping traffic growing at the island’s ports, data from the central bank showed.

“Export of petroleum products increased owing to a more than two-fold growth in bunker fuel volume,” the central bank said in a statement on external trade.

Bunker fuel prices fell by over 50 percent in Sri Lanka whose Colombo port serves as the south Asian region’s transhipment hub.

The opening of a new deep-water terminal at Colombo has led to new services and calls by bigger ships while traffic has also increased at southern Hambantota port owing to growing car transhipment business.

Central bank data showed that in June 2015 petroleum exports rose 82.6 percent to 48.3 million US dollars from a year ago.

In the January – June 2015 period, petroleum product exports rose 21.6 percent to 224.1 million dollars, the data showed. (Colombo/August 21 2015)

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