Colombo: Fuel retailer Lanka IOC has announced plans to start a bunkering operation in the Sri Lankan port of Colombo within the next three months, reports Bunkerworld. The subsidiary of parent company India IOC hopes to cater to the increasing regional shipping traffic as the port expands and in addition to vessels of large shipping companies operating on transit routes.
This announcement comes on the heels of a removal, in July 2006, of government regulations to curb fuel costs.
In other news, Sri Lankan President Mahinda Rajapakse is reported to have approved a commission to investigate allegations of corruption made against agreements for Sri Lankan Ports by former Minister of Ports and Aviation Mangala Samaraweera. The cases in question range from irregular tendering procedures to illegal leasing of land. Samaraweera is believed to have claimed ignorance stating that that a number of decisions in these particular cases were made without his consent. [16/02/07]
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