With another partial payment of Rs. 500 million paid for the 12th coal shipment yesterday (8), the Ceylon Electricity Board (CEB) is still to settle a sum of Rs. 1.5 billion for the same, along with another Rs. 6.4 billion amounting to 70%, which is the balance payments required for the 13th and 14th coal shipments due to arrive today (9) and tomorrow (10), respectively.
Speaking to The Daily Morning yesterday, Lanka Coal Company Chairman Shehan Sumanasekara stated that the payments were required to be settled by the CEB this week.
He emphasised that with the unloading process of the 12th shipment, which takes approximately four to five days, being delayed, this could further delay the unloading of the 13th and 14th shipments which could lead to vast sums in demurrages. “We have two more vessels coming on Thursday (9) and Friday (10). So, if this 12th shipment is not unloaded today (8), and let’s assume that it is going to be unloaded tomorrow, then, we will need at least four days for unloading. The 13th and 14th vessels will be stuck all that while. The 14th shipment especially will have huge demurrages.”
Speaking further, Sumanasekara noted that although they had requested the supplier as to whether they could commence the unloading of the 12th shipment prior to the settlement of the full payment, the supplier had not responded as of last afternoon. “I don’t think that the supplier would give us the option of unloading before settling the complete payment, but we have requested, which is the right course of action from our side. If the supplier does not agree, this will definitely be an issue for us since the vessel arrived on Tuesday (7) and there could be potential demurrages and late payments. If we make the payment tomorrow before 12 noon at least, then the unloading can commence before 1 p.m. or 2 p.m.” Responding to another query, Sumanasekara noted: “We have only one jetty, so there is no option of unloading more than one vessel at a time.”
Earlier, speaking at a media briefing held on 4 February, Sumanasekara raised concerns about the continuation of operations at the Lakvijaya Power Plant in Norochcholai if the required funds for coal purchases are not obtained. He stated that Rs. 15.3 billion is required immediately for the procurement of coal for this week, proposing that the Central Bank provide the required amount in US dollars.