Sri Lanka Shipping buys tug, eyes niche businesses

ECONOMYNEXT – Sri Lanka Shipping Co. Ltd said it has bought a new 75 ton bollard pull tug to serve Colombo port or regional ports as part of a change in business strategy to get into niche sectors.

The company expects its first harbour tug to be in position in Colombo this month.

“The primary objective is to serve Port of Colombo, failing which we shall position her in the Middle East or Port Qasim in Pakistan who had already indicated a requirement for a 75 ton Bollard Pull tug,” the company said in a statement.

“In the event the tug gets employment in the Port of Colombo, then acquiring a second tug is possible by Sri Lanka Shipping Co.”

The statement said Sri Lanka Shipping Co. had decided a few years back to change direction from the ship liner agency and bunkering business to move toward niche areas. 

“The new focus of the company is to capture the opportunities in niche markets in the maritime industry,” it said.

Sri Lanka Shipping Co. said that over the years it has “maintained financial integrity and developed good relationships with the financial institutions.”

DFCC Bank has been the firm’s leading lender for purchase of ships followed by Bank of Ceylon, it said.
(Colombo/January 16, 2016)

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