UAE’s Coral Energy secures contract for Shipping Corporation’s dry rations vessels

United Arab Emirates (UAE)-based Coral Energy DMCC has won the bid to maintain two dry rations vessels belonging to Sri Lanka Shipping Corporation Ltd. within 2023 and 2024.

The Minister of Ports, Shipping and Aviation Nimal Siripala de Silva sought the approval of the Cabinet of Ministers to award the contract pertaining to Mv. Ceylon Breeze and Mv. Ceylon Princess vessels belonging to Sri Lanka Shipping Corporation Ltd. to Coral Energy DMCC. The government called for bids to select either a prospective renter of ships on time rental basis or commercial management in order to engage these two ships/vessels in rental service within the  2023 and 2024 period. 

Accordingly, nine bids had been received—six on time rental basis and three on commercial management basis. 

The Government Information Department noted that Coral Energy DMCC submitted the most financially attractive bid as per the recommendations of the technical evaluation committee and the standing procurement committee appointed by the Cabinet of Ministers.