Experts for greater development of bunkering business

Experts at the National Level Bunker Business Meet here today stressed the need to further develop the sector.
Bunkering is the act or process of supplying a ship with fuel.
The bunkering business in the city, at present at 1.3 lakh tonnes (LT) per annum of fuel, could go up to 4 LT in three years, experts said at the meet, a platform of all major stakeholders in the bunker trade in India.
In his inaugural address, Director General of Shipping, Gautam Chatterjee, appreciated the concerted efforts by Cochin Port,State Government and Customs to provide streamlined trade friendly procedures and invoked bunker suppliers and bunker traders to avail facilities at the port to boost bunker trade.

Chandan Samaiyar of Glander International, D K Basu of Indian Oil, Ashish Khanna of HPCL, Richard D'Souza of Matrix Bharat,Manoj Tandon of Chemoil Adani and Sajith Kumar of JM Baxi, among others participated in the meet.
The meet provided a forum for information interchange and interaction with leading players of the bunker trade in India.

Leveraging on Kochi's geo-strategic location, the port has made earnest efforts to put in place simplified procedures, liberalised tax regime, concessional tariff and a conducive business environment to promote bunker trade in a big way, a port press release said.
Coupled with availability of all quality grades bunkers and in sufficient quantity due to presence of all leading oil majors,tank farms and adequate berthing facilities,it has also been actively supported by Customs, Central Excise, MMD, and the State Government in this endeavour, the release said.

The event, organised by Kochi port, acted as a precursor to the large scale bunker trade that is intended to follow with setting up of the proposed Multi User Liquid Bulk Terminal at the port's land at Puthuvypeen, the release said.
Indian Oil, Hindustan Petroleum and Matrix Bharat are the lead sponsors of the event, being co-sponsored by HHA, Chemoil Adani, SKS Logistics, OW Bunkers, Gulf Petrochem, Mark Associates, and Global Fuels & Lubricants Inc.