February 12, Colombo (LNW): The Sri Lanka Navy has secured almost US$600,000 in foreign exchange over a four-month period by extending security-related services to international merchant shipping, marking a notable boost to state revenue.
According to Director General of Naval Operations, Rear Admiral Harsha de Silva, the initiative — introduced in early October 2025 — has generated US$598,250 through formal arrangements with overseas private maritime security firms. The scheme was launched on October 03 as part of a broader strategy to capitalise on Sri Lanka’s strategic position along key Indian Ocean shipping routes.
Speaking at a media briefing, Rear Admiral de Silva explained that the Navy provides logistical coordination and operational facilitation for armed security teams deployed aboard commercial vessels transiting regional waters. These services include embarkation and disembarkation support, secure handling of equipment, and regulatory clearances in line with international maritime standards.
He noted that the programme has opened up a fresh stream of dollar earnings at a time when foreign exchange generation remains a national priority. The initiative also strengthens collaboration between Sri Lanka and global maritime stakeholders, reinforcing the country’s reputation as a reliable hub for shipping and related services.
Naval officials indicated that demand for such support services has been steadily rising, particularly amid heightened security concerns in certain sea lanes. Plans are reportedly under consideration to expand the scheme further, potentially increasing revenue while ensuring strict compliance with maritime law and safety protocols.
The Navy emphasised that all operations are conducted under close supervision and in accordance with both domestic regulations and international maritime conventions.
