Bunker (the process of supplying a ship with fuel)
sales out of Kochi are expected to touch a lakh tonnes during the next
financial year, thanks to favourable circumstances including reduction
in sales tax on bunker supplies by the State government and the Cochin
Port Trust's concessions to vessels coming on bunkers-only calls.
A
recent review of the bunkering prospects for Kochi said that the bonded
fuel oil price in Kochi Port is hugely competitive and it is lower by
around $ 30 to 40 per tonne in comparison to the immediate rival
Colombo Port.
The review said that the bulk carriers
calling at Goa and Mangalore, and in some cases, even some of those
regulars at Colombo, are now turning to Kochi for quality bunker
supplies.
Bharat Petroleum Corporation and Indian
Oil Corporation are engaged in bunker sales out of Kochi, with the
former emerging as a major player with its refinery having a capacity
to process 1,90,000 barrels per day. The BPCL offers fuel oils
compliant with the latest international standards, with sulphur content
less than 3.5 per cent, which even the established bunkering hubs are
yet to catch up, the review said.
The
BPCL has also been offering highly competitive spot prices linked to
Singapore quotes and now supplies deliveries on a 24-hour basis.
However,
the review said that the bunkering service out of Kochi was constrained
by the limited bunker barge fleet operating in the Kochi port. Existing
bunker suppliers are finding it difficult to cope up with the robust
demand from vessels, especially those on the outer routes.
The
review also pointed out that the large bulk carriers calling at
Mangalore and Goa ports have started giving orders to the tune of 1,500
to 2,000 tonnes in a single stem at Kochi. Due to the non-availability
of grade fuels at these ports and the acute shortage of supply barges,
bunker suppliers are unable to meet the full requirement due to the
acute shortage of supply barges.
The growth
opportunity in Kochi is likely to attract more bunker suppliers in the
near future while others are looking at both barging and trading.
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