Competing Singapore In Indian Ocean

Ships transiting Indian Ocean are looking out for an economical alternative to Singapore for bunkeri...

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Published
Created by Expert Advisor | May 4, 2017

Version 3 | May 4, 2017
Cost: USD 200 | Feasibility: Complex | Reproducible: No


Problem Statement

Ships transiting Indian Ocean are looking out for an economical alternative to Singapore for bunkering and supplies.

Summary

Development of an offshore facility for bunkers, ship repairs and supplies in India Ocean, approximately 200 Nautical Miles south of Colombo will benefit all world wide trading vessels transiting Indian Ocean.

Description

About 100,000 ships pass through Singapore Straits every year. It links Indian Ocean and Pacific Ocean and is also the most important shipping route connecting continents. Singapore recognized this very early and bulit a robust economy servicing the shipping Industry through its geographic advantage. Singapore however imports most of its offerings and fuel supplies from ports as distant as Middle East. 

 

Singapore now stands congested with heavy traffic at the port, leading to delays costing at least 2 days at the port on an average for just the bunkers and supplies. Sri Lanka has been sort as an alternative destination, but the depth at the port of Colombo limits its ability to service larger vessels. 

 

If we move 200 nautical miles south of Colombo, we not only get the water depth to service any vessel, but also a location that is geographically more advantageous to servicing vessels en-route to Australia, East coast of Africa and Europe. 

 

The Idea is to establish FPSOs 200 nautical miles south of Colombo with offshore teams providing associated services such as repairs and supplies. The FPSOs can be serviced by large vessels bringing supplies from refineries across middle East. 

 

The cost savings due to proximity to Middle East and interest of Middle east Refineries in the project will more than justify the inital expenditure required for setting up of FPSOs and other infrastructure such as SBMs.


Challenges Foreseen

1. High Capital Expenditure.