Category: Shipping and Transport
PwC evaluates potential economic impact of Port City Colombo
PwC, on Tuesday, presented their latest assessment of the Port City’s economic impact to the Economic Commission. The assessment evaluates the potential impact of the Port City Colombo across five key macroeconomic variables: Employment, Gross Domestic Product, Foreign Direct Investment, Balance of Payments, and Government Revenue. Having initiated the original report in early 2020, the […]
HIP reaffirms gateway status with first shipment for local manufacturer
The Hambantota International Port (HIP) recently facilitated the shipment of locally manufactured trailers, marking the beginning of its services to the local industry as a gateway port. “The master plan of the Hambantota International Port clearly spells out supporting the development of Sri Lankan industries servicing overseas markets.This shipment for Dutch Lanka Trailers emphasizes HIP’s […]
“JKH Group Q2 EBITDA records growth of 93-Pct; significant turnaround in Leisure sector business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant improvement to Rs.6.41 billion during the quarter under review, which is a 93 per cent increase against the comparative period [2020/21 Q2: Rs.3.32 billion]. • The Group’s businesses, except for Consumer Foods […]
Expolanka achieves record 1st half FY 2021/22 performance
Announcing its financial results for the 2nd quarter of the financial year, Expolanka Holdings PLC once again reported exceptional results driven by the continued growth of its Logistics business. For the quarter ended 30 September 2021 (Q221), Expolanka recorded a Profit After Tax of Rs 12 Bn, at a 166% increase Year on Year (YoY). […]
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 […]