Jaya Container Terminals Limited (JCT Limited), a wholly owned subsidiary of the Ports of Sri Lanka Authority (SLPA), is currently expanding its storage capacity to accommodate larger volumes of marine fuel at a lower cost.
“This will also allow JCT’s customers to distribute fuel at a lower cost, which in turn is an advantage for the Port of Colombo as it can offer competitive pricing for those in need of marine fuel. By the end of 2021, the JCT had built an additional tank with a capacity of 3200 tons, which opened in 2022,” said JCT Managing Director Ranjith Maligaspe.
“There are also plans to install even more tanks in the future. In addition, a brand new fire protection system was introduced as a safety measure.
“The JCT is currently conducting extensive studies of the markets in the region to understand how they can improve their services in the future,” he said.
A transition from LNG to LNG has been observed around the world and studies are being conducted to assess the feasibility of such a transition in the future at the Port of Colombo.
“These developments could lead to the storage and distribution of even greater amounts of marine fuel,” Maligaspe said
JCTs also hit unprecedented heights as it achieved a 275% increase in profits in 2022 due to an unprecedented earning of Rs. 608 million revenue for 2022, a 104% increase over 2021 and a 180% increase over 2020. Fluctuating exchange rates also played a role in boosting profits, contributing 40%.
Source: News Network
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