Category: Shipping and Transport

Bangladeshi crew rescued from sinking ship COLOMBO, Sept 7, 2006 (AFP) – Sri Lanka’s navy rescued 34 Bangladeshi nationals Thursday who were aboard a crippled merchant vessel that sank off the island’s southern coast, officials said. The cargo carrier, MV Amnet Sha, was being towed by a tugboat when it sank in rough weather off […]

TOKYO, Aug 31, 2006 (AFP) – The global airline industry is expected to almost halve its losses in 2006 thanks to buoyant economic growth and deep cost cuts, the world’s top airline association said Thursday.The industry is now expected to lose 1.7 billion dollars in 2006, much less than the 3.0 billion loss previously feared […]

Aug 31, 2006 (LBO) – SriLankan Airlines is in talks with regional carriers from India, Pakistan and the Middle East to carry out third party maintenance checks on aircraft, top airline officials said. The national carrier just successfully completed a multiple C check for an Emirates A330-200 aircraft, called the 4C5Y, usually carried out every […]

GENEVA, Aug 30, 2006 (AFP) – The world’s top airline association on Wednesday predicted a dip in air travel due to the British terror alert this month, but said the prospects for the sector were nevertheless bright.The incident also prompted tougher restrictions on hand luggage worldwide and boosted security checks on passengers.“While we expect to […]

August 21, 2006 (LBO) – Sri Lanka’s Dutch Lanka Trailers has stepped up investments plans in India following a 2 million dollar equity injection through private investors last week. The privately held firm does not disclose its financials, but said sales and profits over the past 3-years have shown a compound average growth of 45 […]

August 15 (LBO) – Sri Lanka’s fuel efficient small car market is racing ahead, helped by high oil prices and prohibitive taxes on larger cars.So, customers are willing to wait.” Despite the lack of economies of scale available to China and India, the company is making inroads in to the small car market. Leading the […]

August 17 (LBO) – Sri Lanka has got two bids with German and Malaysian funding to build 16 flyovers and interchanges in Colombo over two years, officials said.A group of local construction firms with funding from German state bank KfW and a Malaysian firm backed by Malaysia’s Export-Import Bank, put in bids. The government has […]

August 16 (LBO) – SriLankan Airlines said Wednesday that it would raise fares by end August for the third time this year, to cope with soaring fuel prices, even as it trims costs onboard its aircraft. Fuel prices are on an upward trend and we will have to pass it on, there is no other […]

August15 (LBO) – Sri Lankan shippers are up in arms against new levies allegedly charged by shipping lines and other vessel operators, under the guise of documentation, security and other charges. Shippers claim that they are being charged higher terminal handling fees, with instances of rates being upped from 115 dollars for a 20 foot […]

Aug 13 – (LBO) A scrap iron sale at Sri Lanka’s troubled state-run railway has come under fire from unions after the successful tenderer allegedly removed serviceable carriages along with scrapped equipment.Controversy surrounds railways tenders in Sri Lanka, especially in procurement. Two rail wagons, which are still in use by the railway department, was cut-up […]

August 10 (LBO) – John Keells Holdings said Thursday that it bought up about a million shares or just over an eleven percent stake in Associated Motorways Limited, through a private placement. A block of 1,032,231 shares of ten rupees was sold at a premium of 370 rupees apiece, a shareholding of 11.12 percent of […]

August 7, 2006 (LBO) – The United States government Monday kicked off a project to build a 10.6 million dollar high-tech bridge at Arugam Bay, to replace the original one that was damaged during the tsunami. Dispensed through the U.S. Agency for International Development or USAID, the bridge is the single largest infrastructure project in […]