Category: Shipping and Transport
‘s Expolanka Freight extends global footprint with new office in Malaysia
Aug 30, 2018 (LBO) – EFL (Expolanka Freight) a global freight-forwarding company headquartered in Sri Lanka is setting up its 18th overseas operations in the regional hub of Malaysia. The company is taking over an existing operation managed by its parent company SG Holdings Global and will officially open for business in Kuala Lampur on 1 September 2018. […]
Japanese Defense Minister commends recent progress of Colombo Port
Aug 27, 2018 (LBO) – Japanese Defense Minister Itsunori Onodera has commended the progress acquired by the Port of Colombo during the recent past, Sri Lanka Ports Authority said.Defense Minister Onodera recently paid a historic visit to the Port of Colombo marking a landmark in the maritime history of Sri Lanka. During the visit, the […]
Ceylon Motor Traders Association says they understand duty increase in small cars
Aug 03, 2018 (LBO) – Ceylon Motor Traders Association (CMTA) on Friday said they understand the Government’s policy decision taken recently to increase excise duties targeting the small motor cars segment. The Association said the excise duty structure that was proposed in the budget 2018 had a favorable differential for small motor cars which is likely […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
‘s Finance Minister raises taxes on small vehicles
Aug 01, 2018 (LBO) – Sri Lanka’s Finance Minister has signed the gazette notification to amend the excise duties of vehicles below 1000cc category with effect from 01 August 2018, the Finance Ministry said.Accordingly, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will […]
Sri Lanka vehicle population grew by 7-pct in 2017; import expenditure up 5-pct
July 31, 2018 (LBO) – Sri Lanka’s motor vehicle population grew by 7 percent to 7.2 million in last year with import expenditure on motor vehicles also showing 5 percent growth, the annual report on the country’s motor vehicle market published by the Ceylon Chamber showed. According to the report, the year 2017 saw a […]
Sri Lanka launch tourist-friendly Tuk Tuk service
Jul 31, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe launched the country’s first ever tourist-friendly Tuk Tuk service at Galle Face Green, Monday. The project is implemented under the Budget proposals presented by Finance and Media Minister Mangala Samaraweera for the year 2018. Ministers Mangala Samaraweera, Japanese Ambassador in Sri Lanka Kenichi Suganuma, […]
Sri Lanka to launch electric three wheelers by 2020
Jul 24, 2018 (LBO) – Sri Lanka together with Japan Sri Lanka Comprehensive Partnership secretariat and T-PLAN has built an electric three-wheeler. “I am indeed encouraged by the electric three-wheeler developed by Japan Sri Lanka Comprehensive Partnership secretariat and T-PLAN,” Mangala Samaraweera, Minister of Finance said. “It is considered to have incorporated some of the cutting-edge technology […]
Colombo Port transshipments up by 19.8-pct in 1H; targets 7mn TEUs for 2018
July 22, 2018 (LBO) – Establishing a record in transshipment operations, the Colombo Port has witnessed the highest growth of 19.8 percent in transshipment container throughput for the first half of 2018 as against the corresponding period in 2017.During the first half of 2018, the Port of Colombo handled 2,733,906 TEUs of transshipment containers as […]
Sri Lanka Trade Information Portal to be unveiled tomorrow
July 19, 2018 (LBO) – Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) on Friday in Colombo. World Bank supported Trade Information Portals (TIP) across the world provide information that traders need to […]
US Trade Court nullifies tax on Sri Lanka rubber tyre imports in historic judgement
July 17, 2018 (LBO) – Sri Lanka has won the first ever revocation of countervailing duty imposed in US for a Lankan export with the removal of duties on the import of off-the-road (OTR) rubber tyres from Sri Lanka to the United States, Ministry of Industry & Commerce said in a statement. The statement is […]
Tire maker Michelin acquires Camso
Jul 16, 2018 (LBO) – Michelin, a tire company has acquired Camso, an off-the-road (OTR) track and tire company, for US 1.45 billion dollars. The two companies’ off-the-road operations will be combined and create a new division managed in Magog, Quebec (Canada).A press statement claims, “The strategic partnership makes the newly created entity the world leader […]