State-owned Jaya Container Terminal (JCT), with 35,000-mt of storage capacity, is expected to start construction work on the expansion by the end of this year, according to Zafir Hashim, CEO of Lanka Marine Service (Pvt) Limited. Local bunker suppliers have pressed the port authorities to allow more onshore storage tanks. They say the extra capacity would help the bunker sector realize its potential for growth.
Work on the 5,000 mt storage facility was disrupted in 2008 following a court ruling that allowed the state to seize ownership of JCT, which was previously owned and operated by private firm Lanka Marine Service.
The 35,000-mt JCT oil terminal is presently shared by eight licensed local suppliers, but only three of them are active, namely Lanka Marine Service, Lanka IOC PLC and Lanka Maritime Services.