Category: Shipping and Transport

Two Sri Lankans held captive by Somali pirates for nearly for years had escaped a British mediator working to free the hostages had said, but four of their colleagues had died during the ordeal.The two men and a woman had been travelling in a convoy guarded by armed police, were seized by gunmen in ambush […]

DHAKA, June 4, 2014 (AFP) – Bangladeshi Prime Minister Sheikh Hasina is likely to seek Chinese funding to build a deep sea port in the Bay of Bengal when she visits Beijing later this week, officials said Wednesday. The proposed port on Sonadia Island off Bangladesh’s southeast coast would cost billions of dollars, but Bangladeshi […]

May 26, 2014 (LBO) – Sri Lanka’s commercial vehicle registrations continued were sharply down from a year earlier, especially trucks in April 2014, though motor cycle sales were up, an analysis by an equities research unit shows.Motor car registrations were flat at 1,917 units, only marginally down from 1977 units a year earlier. Among small […]

May 22, 2014 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in logistics, leisure and energy said it had opened a container repair and rigging facility.Dissanayake said the facility was part of the groups efforts to provide demand chain management solutions. The unit will operate 24 hours and will provide all weather under […]

May 19, 2014 (LBO) – Logistics International Limited, a unit of Sri Lanka’s Hayleys group said its container depot had been automated and efficiency boosted with new technology that stacks two containers at a time.The firms said the Kalmar DCF100-45E6 from Finland based Cargotec-Kalmar was the first of its kind in Sri Lanka. Janitha Jayanetti, […]

May 15, 2014 (LBO) – Profits at Colombo Dockyard Plc, a unit of Onominchi Japan’s Onomichi Dockyard said profits fell 61 percent in from a year earlier to 130 million rupees in the March 2014 quarter amid rising expenses, interim account showed.The firm reported earnings of 1.82 rupees for the quarter. The stock closed at […]

May 09, 2014 (LBO) – Japan based Sagawa logistics group has bought a 30 percent stake in Sri Lanka’s Expolanka Holdings Plc and official said with the firm expected to take its share up to 51 percent. SG Holdings bought 586 million shares at 10.70 rupees a share Friday. Grouo chief executive Hanif Yusoof said […]

May 8, 2014 (LBO) – Expo Global Distribution Centre (EGDC) a logistic firm set up under Sri Lanka’s free port regulation aimed at boosting entrepot trade and multi-country consolidation has begun operations. “As a prominent player in Sri Lanka’s Freight and Logistics sector, we find the Government’s strategic approach to encouraging the sector heartening.” The […]

May 7, 2014 (LBO) – Bangladesh can slash shipping times to to Europe, US and Canada East Coast, the Middle and Africa by transshipping from Colombo, Sri Lanka’s ports agency chief has said. The newly commissioned Colombo International Container Terminal had increased capacity at the port by 2.4 million twenty foot equivalents a year. A […]

SEPANG, May 2, 2014 (AFP) – Malaysia on Friday officially opened a new airport built specifically for the fast-growing budget-travel sector, but with the country’s aviation industry under deep scrutiny over the loss of missing flight MH370.The still-unexplained March 8 disappearance of Malaysia Airlines flight MH370, which took off from the main KLIA, has raised […]

Apr 27, 2014 (LBO) – Sri Lanka has been invited to set up a trade office at strategic Chinese-run Gwadar port in Pakistan after a delegation from Pakistan met President Mahinda Rajapaksa, his office said.“The port is a part of a larger effort by Pakistan to establish a Pakistan-China economic corridor,” the President’s media office […]

Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed. More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent […]