Category: Shipping and Transport

June 03, 2012 (LBO) – The fate of an ageing ship owned by Sri Lanka’s state-run Ceylon Shipping Corporation will be decided by a court in Durban, following its arrest by maritime authorities in South Africa, a media report said. The newspaper said ITF officials alleged that there were questions about the safety and seaworthiness […]

May 30, 2012 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company Plc, which has agencies for Mercedes Benz and Tata, said profits fell 36 percent to 427 million rupees in the March 2012 quarter. The firm reported earnings of 48. 14 rupees for the quarter. The closed at 590 rupees up 18. 70 Thursday. […]

May 29, 2012 (LBO) – Sri Lanka’s Expolanka Holding Plc, whose main business is in logistics said net profits rose 2. 68 percent to 286 million rupees in March 2012 quarter from a year earlier, though full year profits were sharply down. The group reported earnings of 15-cents for the quarter. The stock closed at […]

May 25, 2012 (LBO) – Sri Lanka is seeking foreign investors to build its first marina on the south coast as boating enthusiasts are drawn to the island amid a post-war tourism boom, officials said. Sarath Kumara De Silva, chairman of the Cey-Nor Foundation, a state-owned boat building outfit, said a marina is planned in […]

May 23, 2012 (LBO) – Sri Lanka’s listed Mercantile Shipping Company Plc, cut losses in the March 2012 quarter to 1.89 million rupees in the from 18.2 million a year earlier helped by stronger margins, interim accounts show. The firm reported losses of 66 cents per share for the quarter. For the year to March […]

May 19, 2012 (LBO) – Sri Lanka will make boats more expensive for fishermen in a bid to fatten the profits of boat builders, the island’s industries ministry said, in the latest in a series of move to restrict economic freedoms of citizens. Fishermen had won the freedom to import boats freely after a tsunami […]

May 16, 2012 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Company said profits in the March 2012 quarter rose 60 percent to 746 million rupees helped by foreign exchange gains. The firm reported earnings of 10. 39 rupees for the quarter. The stock traded at 200 rupees Wednesday, down […]

May 15, 2012 (LBO) – Sri Lanka’s Transport Ministry on Wednesday secured a Japanese grant to draw-up a master transport plan for the Colombo metropolitan region. It will review present conditions, on-going developments and future plans, to identify short and mid-term measures to improve the existing transport system, and in the long term to establish […]

May 11, 2012 (LBO) – Sri Lankan boat builders say taxes on imported parts are pushing up production costs while they are losing domestic market share to foreign vessels that are allowed duty free. A country with cheaper boats could become bigger player in the vast Indian Ocean. Boat manufacturers however say taxes on imported […]

May 09, 2012 (LBO) – Sri Lanka is to hold its third international boat show later this month, looking to increase exports and also create a boating culture in the island and attract affluent local buyers. “The two previous two boat shows held in 2008 and 2010 created new business ventures and led to increased […]

May 03, 2012 (LBO) – Sri Lanka is planning to firm up private finance for a 1. 5 billion US dollar expressway within two months, as the country seeks to connect the north and east to the capital Colombo, Treasury Secretary P B Jayasundera said. “Inquiries are very much active on the now recognized Northern […]

May 01, 2012 (LBO) – China Merchants Holdings International which is building a deep-water container terminal in Colombo port is interested in investing in other Sri Lankan ports as well, an official said. Sri Lanka’s advantages make it a strong contender to be developed as a modern port with the right investment and support of […]