Category: Shipping and Transport

February 10 (LBO) – SriLankan Airlines’ strategic decision-making has been hit by uncertainty over a management deal between its two main shareholders, a top official said. SriLankan is majority owned by the government of Sri Lanka, but its management was given to Emirates when the Dubai based airline bought a 40 percent stake in 1998. […]

Jan 31, 2007 (LBO) – Sri Lankan car dealers have predicted tough sales after being slapped with as many as three new taxes last year that has taken the price of cars soaring. We hope to introduce smaller cars to the market in future,” says Rauf. Senok Trade Combine, which has interests in automobiles, mining, […]

Jan 30 (LBO) – Lanka Indian Oil Corporation has called for vessels to supply lubricant base oil for its new blending plant in the East of Sri Lanka, which is to begin production in June this year. Last week, the fuel retailer, a unit of India’s Fortune 500 Indian Oil Corp got a government licence […]

January 23, (LBO) – Associated Motorways (AMW) has cornered 31 percent of Sri Lanka’s brand new car market the budget agency Maruti winning 28 percent, Fitch Ratings Lanka said, awarding the firm a A (lka) rating with a stable outlook. “The rating reflects AMW’s position as the country’s leading distributor of new passenger automobiles, its […]

January 18 (LBO) – Sri Lanka is banning the import of three-wheeler taxis that use two-stroke piston engines from next year, to reduce pollution in urban areas, a senior minister said.Two stroke engines emit particles and unburnt hydrocarbons that are polluting the environment,” Information Minister Anura Yapa said. The air-quality in Colombo has deteriorated with […]

Jan 10, 2006 (LBO) – Sri Lanka government is planning to inject more subsidies into the loss making, heavily unionized state bus service, following violent protests by workers connected to a Marxist nationalist party, a senior government minister said. Transport Minister A H M Fowzie said he was in talks with the Treasury to get […]

KUALA LUMPUR, Jan 5, 2007 (AFP) – AirAsia X, a new long-haul, low-cost carrier, will take off in July with flights to Britain for as little as 9.99 ringgit (2.84 dollars), Malaysian aviation tycoon Tony Fernandes said Friday. AirAsia X will service other destinations in Europe as well as China and India, said Fernandes, the […]

January 05, 2007 (LBO) – Sri Lanka’s clothing exporters are protesting against shipping lines’ decision to increase fees for handling goods out of the island by as much as 35 percent. Starting January 1, the Terminal Handling Charge or THC for a 20 foot container goes up from 115 dollars to 155 dollars, while 40 […]

SYDNEY, Jan 4, 2007 (AFP) – Asian airlines will likely reap reduced profits in 2007 as increased competition offsets gains in passenger and freight traffic, a global aviation body said Thursday. The International Air Transport Association (IATA) predicted that the sector would see total profits for Asia plummet from around 1.7 billion US dollars in […]

COLOMBO, Dec 26 (AFP) – The crew of a Jordanian cargo ship accused Tamil Tiger rebels Tuesday of piracy, saying the guerrillas had attacked their vessel after it developed engine trouble near a militant-held area.The rebels — in six boats — surrounded the Farah III and fired into the air as they boarded the vessel […]

December 22, 2006 (LBO) – Sri Lanka plans to float a state-run no frills airline, the government said Friday, to fly to the Middle East and neighbouring Asian countries. The budget carrier, Mihin Air, is expected to cost around 1.5 billion rupees with the government initial setting aside 500 million rupees as working capital, director […]

Dec 18, 2006 (LBO) – Sri Lanka’s President Mahinda Rajapakse Monday kicked off a million dollar project to expand the Colombo port, which will triple existing capacity and enable it to service larger vessels in the future. The 1.2 billion dollar project, the largest port development undertaken so far, will add four terminals, each with […]