Category: Shipping and Transport
Sri Lanka’s Port City developer withdraws compensation claims
Aug 02, 2016 (LBO) – Sri Lanka’s port city developer CHEC Port City Colombo, who is handling the project for the Chinese investor, China Communications Construction, has agreed to withdraw all compensation claims for losses incurred due to the suspension of the project. However, the cabinet has approved allocation of 2 hectares to them, without […]
No more debate on monorail vs. LRT, Japan confirms funding
Jul 29, 2016 (LBO) – Sri Lanka’s government confirmed that the Japanese government will fund the islands proposed Light Rail Transit (LRT), ending a debate on monorail vs. LRT following the conclusion of a high level delegation visit from Japan, Thursday. “The delegation, led by Hirofumi Katase the Vice Minister for Economy, Trade and Industry of […]
Sri Lanka’s Cabinet approves USD318mn Indian credit line for railway
July 27, 2016 (LBO) – Sri Lanka’s Cabinet has approved the proposed 318 million US dollars Indian credit line for the development of the country’s railway sector. The credit line was proposed during the Indian Prime Minister’s 2015 official visit to Sri Lanka and will be provided through the EXIM Bank of India. Part of […]
Sri Lanka to improve vehicle registration system with E-Motoring
July 07, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to improve the vehicle registration process at the Motor Traffic Department with the introduction of an E-Motoring Project. Ministerial Committee on Economic Management has recommended the cabinet to implement the project as a build, operate and transfer project.The project is expected to introduce […]
Motor car registrations down sharply from Sept peak: JB Securities
July 05, 2016 (LBO) – Motor car registrations in Sri Lanka recorded 3,657 units in May, slightly down from 3,664 units in April, but significantly lower than a peak 14,544 registrations last September, data from JB Securities shows Premium cars, three wheelers, two wheelers and mini trucks, however, showed an increase in May over April. […]
Sri Lanka Ports Authority profit rises along with debt
July 04, 2016 (LBO) – Sri Lanka Ports Authority boosted profits by 43.7 percent to 4.6 billion rupees before tax, during the first four months of the year, the mid-year fiscal report of the Finance Ministry said. Revenue increased by 8.5 percent to 14 billion rupees during this period. However, outstanding borrowings increased, and SLPA […]
Japan provides Rs2.4bn aid for Sri Lanka’s maritime safety
July 01, 2016 (LBO) – The Japanese government has granted 1,830 million Japanese Yen (Rs2.4bn) to Sri Lanka for the implementation of a maritime safety capability improvement project. The project aims to contribute to the improvement of the maritime safety capability of Sri Lanka Coast Guard by enabling them to procure two petrol vessels to […]
CICT launches country’s first mobile app to track movement of containers
A new level of convenience and sophistication has been introduced to keeping track of containerised cargo by Colombo International Container Terminals (CICT) with the launch of a mobile app for the purpose. A first for Sri Lanka’s port industry, CICT’s ‘eZPort’ app for smartphone users can be downloaded free from the App Store or Android […]
Cabinet approves construction of LRT after JICA feasibility study
June 29, 2016 (LBO) – The cabinet nod has been given to obtain JICA assistance to conduct a feasibility study and immediately commence the construction of light rail transit system in the western region of Sri Lanka. The proposed system will be put up along the Colombo Fort – Kollupitiya – Bambalapitiya – Union Place […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
Sri Lanka’s Finance Ministry calls proposals to amend customs ordinance
June 24, 2016 (LBO) – The Finance Ministry will amend the 150-year old Sri Lanka customs ordinance with a view to absorb modern industrial trends in the current global market. The ministry said this will enable Sri Lanka to update the prevailing import mechanism and, minimize current trade irregularities. The government anticipates obtaining the views […]