Sri Lanka shipping line takes delivery of second vessel

ECONOMYNEXT – Sri Lanka’s national carrier, Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier to transport coal for power plants, which it said would help ensure energy security at a time of turbulence in the maritime industry.

CSC Chairman Shashi Dhanatunge said the MV Ceylon Princess, together with its sister ship MV Ceylon Breeze, proved costly for the carrier, which is now heavily indebted.

“The new ships have a big financial impact on the company,” he said at the Colombo port where the ship made its first call.

CSC has borrowed from People’s Bank to fund the two vessels.

“But in global environment when big shipping lines are falling, we can’t rely on foreign ships to meet our power generation needs,” Dhanatunge said. “Having our own ships will ensure some stability in coal delivery for our power stations.”

The ships, built in China, are mainly meant to transport coal to the 900MW Lakvijaya Thermal Power Station in Norochcholai on the north-west coast, the contract for which CSC has.

The two ships have a cargo carrying capacity of 63,000 tonnes each, but are purpose-built to provide training for Sri Lankan seafarers and can accommodate 12 cadets onboard.
(COLOMBO, Oct 05, 2016)


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