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Sri Lanka: Hambantota welcomes CPC plan to build additional oil storage facilities

Plans to build facility capable of storing refined petroleum product requirements of the entire country for a period of three months, says Chairman.
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cpc to build new storage facility

The Ceylon Petroleum Corporation (CPC) on Monday (14 June) signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG) to develop Hambantota Port as a strategic energy centre in Sri Lanka.

CPC, which in February has been given the green light to restart its participation in the local bunker business, has now identified a land area of approximately 50 Acres owned by Sri Lanka Mahaweli Authority for the project.

A separate storage terminal with associated facilities for both domestic and export purposes connected to the Port via a pipeline is to be established by CPC, about 15 kilometers away from the Port. The new facility is expected to expand storage and bulk distribution facilities of CPC.

The existing storage facility of CPC/CPSTL is sufficient to store refined petroleum product requirements of the entire country for a period of only one month, a capacity below the requirements of ensuring the energy security of the country.

“The growing demand for fuel in the past, combined with the country’s anticipated development in every aspect, has resulted in the opening up of opportunities for investors to establish ventures in Sri Lanka,” says Sumith Wijesinghe, Chairman of CPC.

“In this context, CPC’s product portfolio has to be managed to suit the energy mix of the country if we are to be competitive, especially in comparison with other energy sources.

“The partnership with HIPG will increase the storage facility of CPC to the expected capacity; thereby the impact of global fuel price fluctuations can be mitigated and it will drive CPC to minimize and save additional foreign currency outflows.

HIPG will sublease the required land area within the Port, for the construction and operation of the pipeline, with approval of the Sri Lanka Ports Authority.

All port and terminal related facilities and services, will be provided by the port including stevedoring services for the import, export and transshipment of petroleum products and crude oil subject to feasibility studies.

“The vision of HIPG is to develop the Hambantota International Port to become an energy hub for South Asia,” Johnson Liu, CEO of HIPG.

“Whilst HIPG has put the infrastructure in place to realize that goal, we are also aware that we cannot achieve it without the participation of all the players in the equation. To this end, we recognize the importance of Ceylon Petroleum Corporation as a vital cog in the machinery.

“The Hambantota Port is encouraged by this move by the corporation and as much as it will support the smooth and efficient supply of fuel to the customer it will also strengthen the position of this Sri Lankan port on the global maritime map.”

Tissa Wickramasinghe, COO of HIPG, notes the port has already launched the wholesale supply of Marine Bunker fuels.

“In order to build this energy hub, we entered into a strategic partnership with Sinopec Fuel Oil Lanka Limited (SFOL) to provide bunkering services for vessels,” he states.

“Sinopec with their vast resources guarantees the supply of VLSFO and MGO in Hambantota, enabling the port to service all vessels plying the principal sea routes in the Indian Ocean.

“Transshipment of LPG and delivery for local consumption is also a part of the energy hub mix at HIP, and we have the two main players operating supply facilities within the port.

“We have also partnered with Intertek Lanka (Pvt) Ltd to establish a state-of-the-art petroleum testing laboratory, within the port to provide services to the energy hub, further strengthening HIP capacity to provide these services.

“Our goal is to ensure that all our stakeholders take maximum advantage of the port’s unique location. HIP has been operational throughout the pandemic and has followed all the necessary protocol under guidelines set by CMPort to ensure the health and safety of all involved.”

Related: Proposal for Ceylon Petroleum Corp to re-enter bunker business reportedly approved
Related: Sinopec and Hambantota International Port commence wholesale bunker fuel deliveries
Related: Sri Lanka: Intertek to build bunker fuel testing laboratory at Hambantota port

 

Photo credit: Hambantota International Port Group
Published: 21 June, 2021

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Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

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July 21, 2026

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RESIZED Sora Shimazaki on Pexels

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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July 21, 2026

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RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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