Category: Shipping and Transport

Sept 03, 2013 (LBO) – German automaker Porsche is expecting to boost sales in Sri Lanka which have been hurt due to tax hikes with its newly launched Cayman model and a hybrid to be introduced soon, officials said.“The market in Sri Lanka is maturing nowadays and we have seen lot of interests in the […]

Aug 25, 2013 (LBO) – Sri Lanka’s Hambantota port has welcomed its 100th roll-on-roll-off car carrier this month when ‘Istra Ace’, a vessel operated by Mitsui OSK Line called at the port.Sri Lanka Ports Authority said it started handling car carriers at the port on June 2012. SLPA chairman Priyath Wickrama said the port has […]

Aug 19, 2013 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Onomichi of Japan said profits fell 73 percent to 114 million rupees in the June 2013 quarter from a year earlier amid a drop in revenues. The firm reported profit of 572 million rupees from shipbuilding in the six months with 482 […]

Aug 14, 2013 (LBO) – Large crowds have surged to view a billion US dollar port expansion project in Sri Lanka after the state port agency opened its doors to the public, extending a deadline twice on popular appeal.The port had not seen by many people in Sri Lanka, as it was under tight security […]

Aug 14, 2013 (LBO) – Sri Lanka’s car registration have surged forward to a 15-month high of 2,305, up 74.6 percentfrom a year earlier, mostly driven by pre-registered cars, an analysis of data shows. But rulers gave state workers tax slashed permits most of which are now being sold to the more affluent ordinary citizens, […]

Aug 06, 2013 (LBO) – Sri Lanka’s Access Engineering Plc said it had taken a 30 percent stake in a port handling machinery maintenance firm set up with China’s Shanghai Zhenhua Heavy Industries Company Ltd (ZPMC).It had supplied equipment to Sri Lanka Ports Authority, South Asia Gateway Terminals and Colombo International Container Terminal in Sri […]

Aug 06, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had requested China Merchants group, which has just commissioned a container terminal, to fast-track work on a toll road, his office said.Sri Lanka has given China Merchants Holdings (International) Company Limited and China Merchants Hua Jian Highway Investment Company Limited to design, build, finance and […]

August 05, 2013 (LBO) – Sri Lanka can become a shipping hub with the opening of the 500 million US dollar port Monday which will help secure maritime supply routes, a senior official said. “Sri Lanka has a window of opportunity to get into and become a shipping hub with the opening of the new […]

Aug 05, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa declared open a new container terminal Tuesday, making Colombo the only port in South Asia that can handle the Triple E class large container ships. President Rajapaksa said building ports was part of his five hub strategy, after formally commissioning the loading of a CMA-CGM […]

COLOMBO, August 4, 2013 (AFP) – A 0 million Chinese-built port opens Monday in Sri Lanka, giving Beijing a vital foothold on the world’s busiest international shipping lane as it seeks to secure maritime supply routes. Hambantota, which is just 12 kilometres (7.5 miles) away from the East-West sea lane, is being promoted as a […]

WASHINGTON, August 2, 2013 (AFP) – Three convicted Somali pirates escaped the death penalty Friday when a US jury sentenced them to life in prison for the high-seas murder of four Americans in the Indian Ocean. Federal prosecutors had sought the death penalty for Ahmed Muse Salad, 25, Abukar Osman Beyle, 20, and Shani Nurani […]