Category: Shipping and Transport

Apr 11, 2012 (LBO) – Operating profits at Sri Lanka Ports Authority (SLPA) rose 57.8 percent to 13.1 billion rupees partly helped by rupee despite a slight reduction in container handling, a state report said.In the past the ports authority had suffered losses due to the appreciation of the yen against the dollar as the […]

Apr 07, 2013 (LBO) – SML Frontier Automotive (Pvt) Ltd, a unit of listed Sathosa Motors will invest in a one million dollar plant in Hambantota to assemble Land Rovers in Sri Lanka, an official said.At the moment the state has raised taxes on cars bought by ordinary people in the street but elected rulers […]

Mar 28, 2013 (LBO) – Sri Lanka’s transport sectors is estimated to contribute to 10 percent of the gross domestic product, but its shortcoming including accidents, traffic jams and delays cost 200 billion rupees, an expert has said.“However about 30 percent is lost due to accidents, congestion, lost time in public transport and damaged goods […]

Mar 28, 2013 (LBO) – A bus rapid transit (BRT) solution could be implemented faster and at a much lower cost to prevent gridlock in Sri Lanka’s capital Colombo, while a more expensive rail based Metro system is built, , officials said. The state has been investing heavily in transport in recent years, but mostly […]

Mar 24, 2013 (LBO) – Sri Lanka’s vehicle registrations hit new low of 23,544 in February 2013, down 44 percent from a year earlier, after taxes were hiked to curb imports, an analysis by an equities research house shows. Registrations of Maruti Zen models were down 88 percent in February 2013 from a year earlier […]

Mar 21, 2013 (LBO) – Japan’s aid agency is preparing a transport master plan for Sri Lanka’s capital and its environs leading to the building of a mass transit system which it could finance, officials said.Tetsuji Iida, senior representative of the Japan International Co-operation Agency told LBO that the transport master plan could come up […]

Mar 18, 2013 (LBO) – Sri Lanka’s expressways will get hi-tec equipment to monitor traffic, disseminate information including weather and analyze data to solve problems relating to traffic conditions, the Japan International Co-operation Agency said. Data from existing closed circuit TV cameras, patrol vehicles, Police and expressway users could also be combined and relevant information […]

Mar 14, 2013 (LBO) – Vinalines Glory, a Vietnam flagged oil products tanker had been ordered to be arrested by a court in Sri Lanka in a dispute over a cargo of contaminated diesel which was refused by the importer.The vessel carried a cargo of 26,000 metric tonnes of petrol and 5,000 tonnes of diesel […]

Mar 06, 2013 (LBO) – A 27 kilometre stretch of a in Sri Lanka’s central hills running from Haputale, Boralanda will built by a domestic contractor with finance from Hatton National Bank, the state information office said.The cabinet of ministers had approved a proposal to build the road with bank finance under a scheme where […]

Mar 05, 2013 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Co. Ltd, said profits grew 28 percent to 1.9 billion rupees helped by new buildings, amid tough conditions for ship repairs. In the December quarter the group reported earnings of 434 million rupees, up 7.9 percent from a year […]

Mar 05, 2013 (LBO) – Sri Lanka will get US8 million dollars in loans from China to build 26.75 kilometres of rail track from Matara to Beliatta in the South of the island, the finance ministry said. The Exim Bank of China will provide 200 million US dollars under an agreement signed on February 18 […]

Feb 21, 2013 (LBO) – United Motors Plc, agents for Mitsubishi in Sri Lanka launched a 1.2 litre engined Mirage car into an auto market that has been dented by a tax-hike, high interest rates and currency depreciation. “We are not very ambitious with the current taxation and where the yen is,” managing director Chanaka […]