18 September 2020 10:04 am Views - 530
Laugfs Holdings Chairman W.K.H. Wegapitiya (left) and Deputy Chairman Thilak De Silva standing closer to the 100th ship to call at Laugfs terminal complex at Hambantota Port
Laugfs Gas PLC fully owned subsidiary, Laugfs Terminals Ltd., yesterday celebrated the 100th ship call for loading of LP Gas at its port-based, all weather LP Gas storage and transhipment terminal complex located at the Hambantota port.
The installed cargo capacity of this Terminal Complex is 30,000 MT, which can be turnaround three times monthly to achieve 1,000,000 MT of LP Gas per annum as transhipments, by way of import, storage, mixing of elements of propane & butane and exports to identified markets.
This complex has been granted Board of Investment (BOI) approval with special ‘hub-status’ as per the relevant gazette notifications and enjoys a range of statutory concessions.
The commercial operations of this facility commenced in July, 2019, and it is considered as an impressive performance to record the 100th ship call within a space of only 14 months, which is exceptional for infrastructure projects of this nature having long gestation periods.
Laugfs Terminals said it had to overcome many issues during the process of building the complex and also afterwards emanating from various fronts including that of regulatory authorities, environmental bodies, funding institutions and also had to face stiff retaliatory moves from international competitors engaged especially in the mid-stream LPG markets having perceived a threat for their dominant positions.
“However, the management of the company and the Group was strong-willed to weather the storm and to realize its vision to install a LPG storage and transhipment terminal at Hambantota International Port and also to integrate effectively the mid and downstream value chain of Laugfs and finally to make the port active with energy trading,” a statement said.
Laugfs Terminals with its 100 ships calling at the terminal complex had handled in total 413,000 MT of LPG of inward and outward cargo. The value of the transactions of inward and outward cargo of these 100 ships is around US $ 175,000,000.
Its export markets include Bangladesh, Maldives and India and it is now reaching 60 percent of exports of the total volumes handled monthly.
“Our major export mix consist of apparels, tourism, plantation produce and few more sectors but it is quite interesting to observe a gradual emergence of a completely new sector the ‘energy exports” adding value through Laugfs Transhipment Terminals. This will hopefully be a major export sector in the country in the time to come.
At the moment, the terminal records an average of 15 – 20 ship calls per month and it will soon be increased up to 30 ship calls per month and it will be a situation of at least one ship will either be loading or unloading of LPG cargo at the terminals per day,” the statement sadded.
In terms of shipping and maritime activities, the fleet of LPG vessels owned by Laugfs Maritime Services (Pvt) Ltd is fully utilized for LPG cargo transportation from the terminals.
“We congratulate Laugfs Terminals on their robust business plans and operation which will contribute greatly to the energy hub status of Hambantota International Port (HIP),” Hambantota International Port Group (Pvt) Ltd. CEO Ray Ren said.
“HIP which now positions itself on quality services and standards in all aspects of port operations will continue to support Laugfs Terminals in achieving their targets with high quality operational and health & safety standards for the discharge and loading of LPG,” he added.