Mauritian Bunkering Project Would Tap into Indian Ocean Traffic

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--About 35,000 vessels pass annually off the shores of Mauritius, the Indian Ocean island state. Their main routes are between Asia, Southern Africa and South America. Only 3,500 of those vessels have recourse to services currently offered in the Mauritius capital, Port Louis.

Macquarie Group Limited (ASX:MQG) (Sydney, Australia), a private investment bank, has expressed interest in funding a new offshore oil-bunkering facility in the Port Louis harbor, with an initial investment of $76 million.

Following the handing over of a letter of intent by the Mauritian government to the Australian government and the project leader, the bank will submit its operational plan and application for an environmental impact assessment (EIA) and a risk assessment. A formal agreement would be signed following government approval.

The bunkering facility is one of a number of projects aimed at transforming the Port Louis harbor from a destination port to a regional facility, and make Port Louis a bunkering hub in the Indian Ocean. Related activities, including changing of crew and ship handling, will be covered in the scope of the transformation, which would bring foreign exchange into the country and create jobs.

The bunkering facility is expected see the number of vessels that enter the harbor increase exponentially. Macquarie has indicated it would bring an additional 900 to 1,000 vessels to Port Louis in its first year of operation. The government is also looking at possible projects to increase the storage capacity of petroleum products in the port area.

Australia's high commissioner in Mauritius, Susan Coles, said the project is the first under the port development pillar of the Ocean Economy initiative, and would put Mauritius on the Indian Ocean shipping and bunker trading map. The development of the port and related services for maritime traffic would help to create major opportunities for Mauritian small to medium enterprises (SMEs) and job prospects.

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