Category: Shipping and Transport
Industrial Development Board establishes Smart Facilitation Centre at Hambantota Intl. Port
The Hambantota International Port Group (HIPG) entered into a sublease agreement with the Industrial Development Board (IDB), to establish a smart Facilitation Centre at the Hambantota Maritime Center (HMC). The new center will smoothen the path for foreign investors focused on establishing projects in the Southern Province. The agreement was signed by Johnson Liu, CEO, […]
Aitken Spence Logistics Expands its Reefer & GP Container Fleet
Aitken Spence Logistics, the pioneer in integrated logistics, strengthened its mobile storage solutions operations by acquiring the reefer and GP (General Purpose) container fleet of a competitor business. Aitken Spence Logistics introduced the concept of mobile cold storage solutions using reefer containers on rent, with 24-hour backup maintenance which has been widely accepted by the […]
MY Kalizma – First Superyacht to berth at Port City Colombo Marina
The Port City Colombo Marina welcomed the MY Kalizma – The Classic Superyacht, once owned by Hollywood screen idols Elizabeth Taylor and Richard Burton. The first Superyacht to sail into the Port City Colombo Marina, established Colombo as a calling port in the Indian Ocean with facilities for berthing luxury Superyachts. Pierre Pringiers, Chairman of […]
Hambantota Port first Sri Lankan Port to receive ISO Integrated Management System Standards
Hambantota International Port (HIP) was the recipient of ISO Integrated Management System standards for its quality, environmental consciousness and health and safety. The ISO Integrated Management system will enhance performance driving everyone from bottom to top levels for better quality, environmental consciousness and health and safety standards and practice. HIP is the first Sri Lankan […]
HIPG signs MoU with BOI; joint shared services for industries in Southern Province
Hambantota International Port Group (HIPG) and the Board of Investment of Sri Lanka (BOI) signed a cooperative “Shared User Services” Memorandum of Understanding (MoU) on the 26th of October 2021. Johnson Liu, Chief Representative of China Merchants Port Holdings in Sri Lanka and CEO of HIPG, and Sanjaya Mohottala, Chairman of BOI, signed the Strategic […]
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 […]