Category: Shipping and Transport

June 30, 2012 (LBO) – Hadi Hamad Al-Hammam group, a Saudi Arabia based firm, will invest 44 million US dollars in Seagulf Shipyard (Pvt) Ltd, a boat repair centre in Sri Lanka’s Galle port, the state investment promotion agency said. “The project will also create employment for marine engineers and maintenance in ship repair and […]

June 28, 2012 (LBO) – Sri Lanka’s ports agency will lease land to three companies to build warehouses at a new industrial port in Hambantota in the island’s south, minister Keheliya Rambukwelle said. McLarens Holdings Ltd, will invest 4.0 million US dollars on a 2.5 hectare block, Ace Distripartks (Pvt) Ltd, will invest 3. 0 […]

June 28, 2012 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has launched the hull of a new supply vessel it is building for a Singapore customer supplying the growing global offshore oil and gas industry. Greatship Global Offshore Services is a Singapore incorporated subsidiary of Greatship (India) Limited, part of the Great Eastern Shipping group […]

June 20, 2012 (LBO) – Sri Lanka’s Logiventures, a unit of conglomerate Hayleys PLC, is expanding its fleet of car carriers to meet the growing demand to transport vehicles being cleared from the southern port of Hambantota. Logiventures is also investing in a vehicle transit facility close to the Hambantota port, to facilitate clearing, inspection […]

June 16, 2012 (LBO) – Sri Lanka’s listed Colonial Motors Plc, said it had bagged the agency for Japan’s Mazda Motor Corporation. The firm said a deal appointing it as the importer and distributor of Mazda vehicles for Sri Lanka and the Maldives was signed on June 11. Sri Lanka recently hiked taxes on motor […]

June 07, 2012 (LBO) – Sri Lanka’s motor car registrations fell 16.1 percent in the first quarter of 2012 to 12,496, with a steeper 23.3 percent fall to 4,246 in the month of March, official data show. Interest rates on leases, which are used to buy cars, had gone up steadily since the last quarter […]

June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said. Expanding Investor Mix Wickrama said foreign investors should also look at Sri Lanka, for its close […]

June 6, 2012 (LBO) – Vehicle transshipment from Sri Lanka is getting underway, with Asia’s second largest automaking group starting to use a new port in the south of the island, where up to four vessels are expected to call each month. On June 17, another Hyundai Glovis car carrier, ‘Asian Legend’ will come to […]

June 04, 2012 (LBO) – Sri Lanka’s state run ports agency said it was eying more international vehicles transshipment business with a new port in Hambantota to start berthing roll-on roll-off car carriers from the first week of June. On June 05, the vessel N4K Ericia will arrive from Japan with 15 vehicles for transshipment […]

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 […]