Shrimp farmers face big flooding bill

FLOODING this wet season will cost shrimp farmers about K1.5 billion, the Myanmar Shrimp Association (MSA) estimated last week.
The association reported initial findings that 6676 acres of shrimp farms had been lost due to flooding but predicted this would rise to 10,000 acres once research by the MSA was completed.
“We usually put about 5000 to 10,000 juvenile shrimp into each acre of farm. But we will be able to catch about the 70 percent of shrimp that escaped from the flooded farms,” said MSA joint secretary U Myint Soe, who provided the figures on flood damage.
He added that total losses from flooding caused by heavy rain in July and August would likely reach about K1.5 billion.
The worst hit areas were in Yangon, Bago and Ayeyarwady divisions.
“We will start our businesses again as soon as the water level drops and the banks of the farms reappear,” U Myint Soe said, adding the MSA was providing information to farmers on how to restart their operations as well as how to safeguard against future floods.
Hatcheries are currently producing juvenile shrimp out of the usual February-May season to help restock farms. – Sann Oo

 

MFSL plans direct sea link to Sri Lanka

STATE-OWNED Myanma Five Star Line (MFSL) will introduce cargo transportation services to Sri Lanka in the near future to mark the opening of a direct sea link between the two countries, the local Flower News reported on September 17. Rice and timber are expected to be the main items of trade, the report said. The move follows an agreement between Myanmar and Sri Lanka last November to establish direct air and sea links to increase bilateral trade ties. Currently, trade between Myanmar and Sri Lanka is transacted through Singapore. Myanmar and Sri Lanka are aiming to quadruple their bilateral trade this year to reach US$25 million from over $6 million the previous year.
– Xinhua

 

ONGC to sign for new Myanmar blocks

NEW DELHI – Indian state-run explorer Oil and Natural Gas Corp is likely to sign an agreement with Myanmar this week for the exploration of three offshore blocks, company and government sources said on September 19.
A senior ONGC official, who could not be named, said the blocks off Myanmar’s Rakhine coast had been offered on a nomination basis through negotiations to the Indian firm.
“It’s a government to government deal. Money involved is marginal. We will be investing for seismic and exploration activities,” the company official told Reuters. ONGC through its overseas investment arm ONGC Videsh will own 100 percent of the three blocks, he said.
ONGC Videsh managing director R.S. Butola was to accompany India’s oil minister, Murli Deora, on a trip to Myanmar from September 23. “The agreement signing ceremony (for the blocks) will take place on Monday,” said an oil ministry official, who also could not be named.
Deora is also expected to lobby for gas from the A1 and A3 blocks in the Bay Bengal.
Other items on the agenda include diesel exports from Numaligarh refinery to Myanmar and training of Myanmar engineers by Indian public sector units across the hydrocarbon value chain, sources said. – Reuters, PTI

 

Industrial zones get more electricity

THE Yangon Electricity Supply Board (YESB) increased power supplies this month to all industrial zones in the city, the president of the Hlaing Thar Yar Industrial Zone management committee said.
U Myat Thin Aung said that under a new three-day cycle introduced on September 9, all Yangon industrial zones have been receiving 24-electricity every third day and 18 hours of power on other days.
“Since the beginning of September, the Yangon Electricity Supply Board has been increasing the distribution time from five hours a day to nine hours a day. Furthermore, they have also provided nine hours of power at night,” U Myat Thin Aung said.
The increased supplies “will be very convenient for manufacturers as it significantly saves on production costs”, he said, alluding to factories’ frequent use of more expensive diesel-powered generators during blackouts.
There are some 1500 factories in Yangon industrial zones which pay K50 per unit of electricity, compared with K25 for residential users. “If the factory uses diesel to generate electricity, per unit costs are much higher than what the YESB charges,” U Myat Thin Aung said.
The YESB is expected to cut back electricity supplies again when lake levels at the country’s hydropower stations fall after monsoon. – Ye Lwin