Financial Times

LMSL to run floating storage facility

Lanka Marine Services Ltd (LMSL), asked to vacate its land under a Supreme Court judgment, said on Wednesday that it will continue to service its customers through a combination of a floating storage and the planned shared facility that will be run by the Sri Lanka Ports Authority (SLPA).

"By next week, LMSL will be providing its customers with all grades of bunker fuels as in the past using a combination of floating storage and the proposed shared land storage facility to be run by the Sri Lanka Ports Authority. The company has engaged a tanker on a long term charter for procurement and storage of bunker fuels. LMSLwill also continue to provide bonded storage and delivery services of marine lubricants on behalf of the many global lubricant manufacturers represented by them," the company said in a statement.

LMSL, a subsidiary of John Keells Holdings (JKH), said the company has - in line with the Supreme Court order made on Monday - deposited a sum of Rs 153.2 million ina separate bank account and notified the Commissioner General of Labour of this security deposit as the compensation payment to workers. The Supreme Court in July overturned the privatization of LMSL saying it was irregular and ordered the company to vacate the premises and hand it over to the SLPA.

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