Sri Lanka Shipping takes delivery of Europe-built first harbour tug

Sri Lanka Shipping europe built tug

 Sri Lanka Shipping Co., Ltd. has taken delivery of its first harbour tug of 6000 BHP delivering 75 Tons Bollard Pull which is expected to arrive in Colombo shortly. 

The tug was constructed at a leading ship yard in Europe and is fitted with Rolls Royce Controllable Pitch (CP) Thrusters that will provide high mobility and response in handling the berthing and unberthing of large vessels and other modern equipment and safety features including Class 1 Fire Fighting and spray systems.

“Our tug will be the most modern and best equipped in South Asia and has already received market attention from potential user,” a Sri Lanka Shipping spokesman said.

“As a fully owned Sri Lankan Company our primary objective is to serve the Port of Colombo which has a requirement for tugs of this specification, failing which we shall position her in the Middle East and/or Port Qasim Pakistan which port has already announced a requirement for 75tons Bollard Pull tugs,” he added. 

The company has an option to purchase a second tug of similar specification which is currently under construction and will be ready for delivery in June 2016. 

Sri Lanka Shipping Co. Ltd. across the years has been engaged in shipping agency, bunkering and other ancillary marine businesses. It felt that the increasing demand of ship owners to liberalise the Shipping Agency business and the lack of infrastructure, understanding and support by authorities to develop and promote bunkering would not create growth opportunities for the company in these sectors and disposed of its interest in these businesses. With these changes the company changed its direction from Liner Shipping Agency and Bunkering and looked for opportunities in niche markets such as harbour tug services and the construction of specialised self unloading bulk carriers for the transport of bulk cement for long term Charter to companies importing bulk cement. The company has commenced construction of its first 21000 dwt bulk carrier which will be delivered in 2017. 

Over the years, Sri Lanka Shipping Co. Ltd. has maintained sound financial integrity and has long standing relationships with local financial institutions, particularly the DFCC Bank and Bank of Ceylon who are the joint lenders for the current new buildings. Recently, it is believed that International Finance Corporation IFC (World Bank Group) has shown interest in the Company activities and have indicated interest to assist the company with further investment.

The Maritime Industry is going through a tough time and needs long pockets to overcome the current downtrend in the offshore and shipping trade says the company. 

Market analysts may say that it is not the right time to invest but then how can businesses wait for the right time says the company spokesman adding that what is required is to have the relevant Authorities support the growth of ship-owning, understand the business, remove the bureaucratic practices and regulations to free the Industry and be supportive of local companies in ship owning.