Category: Shipping and Transport

Sept 17, 2012 (LBO) – The Asian Development Bank has approved 98 million US dollars in additional financing to expand a road re-building program in Sri Lanka’s North Central Province and war torn Northern Province. The project will reduce travel time on the road by an average of 20 percent from the 2010 level. “The […]

Sept 17, 2012 (LBO) – Sri Lanka’s Hemas group said it has formed a logistics company with Forwardair Logistics (Pvt) Ltd, taking 50 percent of the joint venture and branding it Hemas Logistics. “With this joint venture we will expand our integrated logistics solutions capability through container transport and the movement of over-dimensional and project […]

Sept 15, 2012 (LBO) – Sri Lanka’s vehicle registrations had fallen 39.5 percent to 27,185 in August 2012, from a year earlier, though there was marginal pick up from a low of around 24,000 hit in June, an analysis by an equities research house has showed. Luxury Mercedes, BMW and Audi units fell just 11 […]

Sept 12, 2012 (LBO) – China State Construction Engineering Corporation Limited has been given a 40 billion rupees (303 million US dollars) contract to build roads and flyovers in Hambantota in the South. Cabinet spokesman minister Keheliya Rambukwelle said 85 percent of the financing will come from the Exim Bank of China and the balance […]

Sept 11, 2012 (LBO) – Sri Lanka’s new vehicle registrations have plunged 48 percent in June 2012 from a year earlier in the wake of higher taxes and currency depreciation with three wheelers falling the most, official data showed. In the six months to June total vehicle registrations were down 5.7 percent to 234,388. Motor […]

Aug 30, 2012 (LBO) – A contract to build 46 bridges with a 22 million Euro loan has been given to Matiere and Eiffage Constructions Metalliques, a France based consortium, information minister Keheliya Rambukwelle said. The bridges will be built on national highways. The contracts include the building of sidewalks, he said. Sri Lanka contributed […]

Aug 23, 2012 (LBO) – Containers handled at Sri Lanka’s ports fell 1. 8 percent to 1.718 million twenty foot equivalent units in the first five months of the year, though there was recovery in transshipment volumes in May, official data show. Total cargo discharged rose 5.5 percent to 16.6 million metric tonnes up to […]

Aug 23, 2012 (LBO) – China will finance the expansion of Hambantota Port in the island’s south with two loans of 600 million US dollars and one billion yuan, cabinet spokesman Keheliya Rambukwelle said. The first phase of the Hambantota port, also financed by China has been positioned as an industrial port with facilities to […]

Aug 23, 2012 (LBO) – China will give a 278 million credit to finance a railway track from Matara in Sri Lanka’s South to Beliatta, cabinet spokesman minister Keheliya Rambukwelle said. The Exim Bank will provide 200 million US dollars under preferential buyers credit terms and the government of China will give a concessional loan […]

August 19, 2012 (AFP) UDAPPUWA, Sri Lanka — Two Sri Lankan brothers who joined a wave of asylum seekers heading for Australia were arrested at sea, thrown in jail and face an ongoing court case — but they say they will soon try to reach the country again. The Udappuwa area is ethnically Tamil, but […]

Aug 16, 2012 (LBO) – British airways will resume flights to Sri Lanka in March 2013 after a fifteen year absence in the island, the airline said in a statement. Visitors from Western Europe to the island rose 22 percent to 41,584 with UK generating most tourists at 13,643 up 13.7 percent from a year […]

Aug 09, 2012 (LBO) – Increasing demand for ship supply services off Sri Lanka has prompted GAC Sri Lanka, the local unit of the international shipping logistics group, to move into bigger offices in the ports of Trincomalee and Galle, a statement said. The new office in Galle is located near a new expressway connecting […]