Category: Shipping and Transport
CICT declared Asia’s Best Container Terminal under 4 million TEUs category
Colombo International Container Terminals (CICT) has continued its winning streak on the global stage by winning the award for the ‘Best Container Terminal in Asia’ in the Under 4 million TEUs category for a record fifth consecutive year. The winner of this prestigious award was announced on Thursday 21st October at the 2021 Asian Freight, […]
Opinion: Navigating through high maritime freight rates
By Imesha Dissanayake Maritime Freight rates have been on an upward trend since the second half of 2020. The Drewry’s composite World Container Index (WCI) as at 30th September 2021 increased to USD 10,361 per 40ft container, which is 292% higher than the same period in 2020. The average composite index of the WCI (Drewry), […]
Sri Lanka projected to grow by 3.3-pct : Shifting gears to services-led growth can help build back better
Sri Lanka’s economy is projected to grow by 3.3 percent in 2021, but the medium-term outlook is clouded by pre-existing macroeconomic weaknesses and the economic scarring from the COVID-19 pandemic. A gradual recovery will likely lead to corresponding improvements in labor market conditions. Most countries in South Asia are far from pre-pandemic trend levels, says […]
JKH: CSE disclosure regarding development of West Container Terminal-1 in Colombo Port
We write with reference to our disclosure dated 15 March 2021 regarding the JKH investment in the development of the West Container Terminal-1 (WCT-1) in the Port of Colombo, as the local partner of Adani Ports and Special Economic Zone Limited (APSEZ). Pursuant to the receipt of the said LOI on 15 March 2021 from […]
Total motor vehicle registrations fall to a decade low in 2020: report
Total motor vehicle registrations of 2020, hit the lowest for the last decade and even lower than the registrations recorded in 2009 when the world experienced the global financial crisis, a new report highlighted. Motor Vehicle Industry Report released by the Economic Intelligence Unit of the Ceylon Chamber of Commerce covering key trends in 2019 […]
Expolanka group reports gross profit of Rs.14.4Bn
259% YoY growth in Group Profit After Tax up to Rs. 6.3 Bn 165% YoY increase in Group revenue up to Rs. 95.7Bn Logistics growth driven by surging retail demand in U.S. Led by vibrant growth in its logistics sector, Expolanka Holdings PLC, delivered another record-breaking performance during the quarter ended 30 June 2021 (Q121). […]
HIPG Delegation visits SL Ambassador to China; discussions on joint investment promotion
As construction work begins in the industrial park at the Hambantota Port, efforts are being made to attract Sri Lankan and international investors. A delegation from Hambantota International Port Group (HIPG) led by Justin Zhang, General Manager – Port Investment Services, recently visited Sri Lanka’s Ambassador to China, Dr. Palitha Kohona in Beijing to discuss […]
Russell Juriansz elected as Chairman of Sri Lanka Shippers’ Council
Sri Lanka Shippers’ Council held its 51st Annual General Meeting on 14 July 2021. Considering the prevailing situation in the country, this year’s AGM was held as a Virtual Meeting connected through Microsoft Teams. Russell Juriansz was elected as the Chairman and Imalka Kumarapeli and risherman Frink were elected as the 1st Vice Chairman as the 2nd Vice Chairman respectively for the year 2021/2022. Committee […]
Sri Lanka receives multi-day fishing vessel monitoring system from Australia
Sri Lanka received a multi-day fishing vessel monitoring system that contributes to ensure maritime security, under a financial grant from Australia. Australian High Commissioner David Holly said the monitoring system would help in preventing illegal fishing, ensuring border protection and security in Indian Ocean Region, preventing human and drug trafficking and rescuing fishermen in distressed […]
Greater synergy between India and SL pivotal for container volume growth in sub-Continent: SLPA Chairman
Capt. Nihal Keppetipola – Chairman of Sri Lanka Ports Authority (SLPA) paid a courtesy visit to the Indian High Commissioner to Sri Lanka His Excellency Gopal Baglay on 09th July 2021. On the invitation of the Indian High Commissioner to Sri Lanka, the meeting took place in the India House, Colombo 03. Also present at […]
Cleanup operation of oil spill at Hambantota International Port completed
The minor oil spill that occurred during bunkering at the Hambantota International Port (HIP) has been cleaned up by the Emergency Response Unit of the port. The oil spill occurred at approximately 6 pm on Sunday, 11th of July 2021 whilst a bunkering barge was refueling a commercial vessel that had called at the port. […]
Oil spillage reported in Hambantota International Port
An oil spill has occurred at the Hambantota Port at approximately 6 pm on Sunday, 11 July 2021. The incident has occurred whilst a bunkering barge was refueling a commercial vessel that had called at the port. Hambantota International Port Group said that immediate action was initiated by the port as per the Standard Operational […]