Shipping and Transport

CICT attracts first new service to Colombo from Ocean Alliance

(PRESS RELEASE) – Colombo International Container Terminals (CICT) recently welcomed the maiden call of CMA CGM Nabucco, the first vessel under the Ocean …

Four-lane roadway with tunnel for Kandy to reduce congestion

Apr 05, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to construct a four-lane roadway to reduce traffic congestion in Kandy town. The road …

Sri Lanka to receive Yen grant for Trinco port development

Mar 30, 2017 (LBO) – Sri Lanka’s Prime Minster is to sign exchange of notes for a grant assistance of one billion yen (1.3 billion rupees) from Japan for …

China may divest 20-pct of Hambantota port JV within 10 yrs

Mar 22, 2017 (LBO) – China Merchant Port Holdings may divest 20 percent of the initial shareholding of the proposed Hambantota port joint venture within 10 …

Lubricant players concerned over duty hike on synthetic lubricants

Mar 22, 2017 (LBO) – Sri Lanka’s lubricant suppliers are starting to pass the tax imposed on synthetic lubricants to end users, the Ceylon Motor Traders …

Sri Lanka to test Bus Priority System in Rajagiriya: Min

Mar 10, 2017 (LBO) – Sri Lanka Megapolis Ministry will test launch a new bus priority system from Rajagiriya to promote better use of public transport in …

Sri Lanka Port Authority records Rs11bn in profits for 2016

Mar 10, 2017 (LBO) – The Sri Lanka Ports Authority made profits of 11 billion rupees in 2016 while recording a revenue of 44 billion rupees, the Ports …

JICA kicks off study for Colombo-Malabe elevated LRT

Mar 03, 2017 (LBO) – Sri Lanka office of the Japan International Cooperation Agency (JICA) has commenced the preparatory study for the first elevated Light …

Sri Lanka needs to remarket public transport: official

Mar 03, 2017 (LBO) – Sri Lanka’s public transport needs to be developed and marketed as an attractive technologically savvy mode and an alternative to …

Sri Lanka to set up special company to fund highway projects

Feb 23, 2017 (LBO) – Sri Lanka’s cabinet has approved establishing a special infrastructure company to seek funding for critical infrastructure projects, …

World’s largest car, truck carrier to call at Hambantota port

Feb 20, 2017 (LBO) – MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC), belonging to Hoegh Autoliners AS, Oslo, is scheduled to …

Mahindra expands business foot print with Ideal Motors Sri Lanka

Mahindra & Mahindra Ltd., a part of the USD 17.8 billion Mahindra Group based in India, today announced that it is set to expand its business footprint in …

South Korea court to declare shipping giant Hanjin bankrupt

Feb 02, 2017 (LBO) – South Korea’s shipping giant Hanjin Shipping is expected to be declared bankrupt this month, foreign media reports said. The Seoul …

RDA to obtain Rs23bn for Central Expressway phase II

Feb 01, 2017 (LBO) – Sri Lanka’s Cabinet has decided to obtain part of the funds for the construction of phase II of Central Expressway Project from two …

Sri Lanka’s Sail Lanka Charter hosts PM on-board catamaran

Jan 27, 2016 (LBO) – Sri Lanka’s Sail Lanka Charter hosted Prime Minister Ranil Wickremasinghe and his wife on-board their 53ft sailing catamaran, …

New leasing scheme for vehicles comes into effect

Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for …

Sri Lanka to regularize small commercial vessels

Jan 18, 2017 (LBO) – Sri Lanka’s cabinet has decided to regularize small commercial vessels that have been in service as well as new vessels including …