PANAPRESS
Panafrican News Agency
Mauritius: Mauritius set to become petroleum, bunkering hub in Indian Ocean
Port-Louis, Mauritius (PANA) - The Mauritian Government is embarking on an ambitious project to transform Port Louis into a leading petroleum and bunkering hub in the Indian Ocean, as it is working on a global plan for the petroleum sector, covering mainly security of supply for local consumption, trading in the region and bunkering.
Speaking Wednesday night at the opening of the first regional forum on bunkering, organized in the nation's capital, Port Louis, by the International Bunker Industry Association in the Indian Ocean region, Industry and Commerce Minister Ashit Gungah said a new Master Plan dedicated to the petroleum sector is being prepared for Port Louis.
He said the Government planned to extend the port limits to provide for the anchorage and furtherance of petroleum-based activities, a study of the local bunker sector, feasibility for the setting up of an oil terminal in Mauritius and the construction of additional tankage facilities.
''We can no longer rely solely on our population and must try to exploit also our maritime territory, which covers an area of around 2 million square kilometers, (which is) amongst the largest in the world.
Mauritius is thus poised to project itself in a leading role in the maritime sector,'' the Minister said.
According to him, this is a unique opportunity to leverage the island's geographical location and business-friendly environment to position it in a pivotal role on the oil route in the Indian Ocean.
''The bunker market remains price sensitive to the extent that a few dollars difference may either fix a deal or drive a client away. In order to render Mauritius more attractive as a bunker destination, the bunker trade has been liberalized and incentives provided through the reduction and removal of charges and duties,'' he said.
He said the number of vessels which took bunker in Port Louis increased from 1,855 in 2013 to 1,973 in 2014.
Among these vessels, in 2013, 689 called at Port Louis only for bunker, whereas in 2014, 721 called only for bunker, representing an increase of 6.4% year-on-year from 2013 to 2014.
The volume of bunker fuel supplied to ships has increased from 269,324 metric tons in 2013 to 287,546 metric tons in 2014, representing an increase of around 6.8%.
The Minister said this volume represents a mere 30% of the country's short term target of 1 million metric tons of bunker exports per year which, he said, should well be within the reach of the island.
-0- PANA NA/SEG 15Oct2015
Speaking Wednesday night at the opening of the first regional forum on bunkering, organized in the nation's capital, Port Louis, by the International Bunker Industry Association in the Indian Ocean region, Industry and Commerce Minister Ashit Gungah said a new Master Plan dedicated to the petroleum sector is being prepared for Port Louis.
He said the Government planned to extend the port limits to provide for the anchorage and furtherance of petroleum-based activities, a study of the local bunker sector, feasibility for the setting up of an oil terminal in Mauritius and the construction of additional tankage facilities.
''We can no longer rely solely on our population and must try to exploit also our maritime territory, which covers an area of around 2 million square kilometers, (which is) amongst the largest in the world.
Mauritius is thus poised to project itself in a leading role in the maritime sector,'' the Minister said.
According to him, this is a unique opportunity to leverage the island's geographical location and business-friendly environment to position it in a pivotal role on the oil route in the Indian Ocean.
''The bunker market remains price sensitive to the extent that a few dollars difference may either fix a deal or drive a client away. In order to render Mauritius more attractive as a bunker destination, the bunker trade has been liberalized and incentives provided through the reduction and removal of charges and duties,'' he said.
He said the number of vessels which took bunker in Port Louis increased from 1,855 in 2013 to 1,973 in 2014.
Among these vessels, in 2013, 689 called at Port Louis only for bunker, whereas in 2014, 721 called only for bunker, representing an increase of 6.4% year-on-year from 2013 to 2014.
The volume of bunker fuel supplied to ships has increased from 269,324 metric tons in 2013 to 287,546 metric tons in 2014, representing an increase of around 6.8%.
The Minister said this volume represents a mere 30% of the country's short term target of 1 million metric tons of bunker exports per year which, he said, should well be within the reach of the island.
-0- PANA NA/SEG 15Oct2015
