Category: Shipping and Transport

Oct 18, 2011 (LBO) – Sri Lanka based Solas Marine has wrapped up a three billion Indian rupee deal to supply 80 fast interceptor craft (FIC) to the Indian Navy, a media report said. India’s IANS news agency said the contract was signed in the last week of September for delivery over three years to […]

Oct 17, 2011 (LBO) – Sri Lanka’s first expressway which is to be opened in November will be closed for passenger buses, highways minister Nirmala Kothelawala said. The expressway runs from Colombo to Galle. It is Sri Lanka’s first toll road. The road is expected to be opened for traffic in November, the minister said. […]

Oct 16, 2011 (LBO) – The Sri Lanka Ports Authority aims to have a long-delayed online billing system ready by January 2012 with the customs already ready with an electronic payment portal having done test runs. He requested the trade to use parts of the system which were now operational such as filing ‘CusDec’ or […]

Oct 13, 2011 (LBO) – The Sri Lankan state is getting ready to acquire land and pay compensation in the second phase of the project to build a large deep-water port in Hambantota on the south coast. The extent of the submerged rock was missed during initial surveys and the cost of blasting it has […]

Oct 06, 2011 (LBO) – Mediterranean Shipping Company has decided to extend by two years a deal with the Sri Lanka Ports Authority under which it calls at a state-run container terminal in Colombo port. The container shipping line is also interested in investing in new ports being developed in the island, an SLPA statement […]

Sept 29, 2011 (LBO) – Sri Lanka’s navy is monitoring merchant shipping movements to guard against the threat of attacks by Somali pirates who have been extending their raids further east into the Indian Ocean. The International Maritime Bureau has warned that pirate attacks might extended even further east towards Sri Lanka. Sri Lanka Ports […]

Sept 29, 2011 (LBO) – Sri Lanka will borrow around 500 million US dollars from local banks to pay domestic contractors who will pave national highways and provincial roads with concrete. The Cabinet of ministers has approved a proposal by the Ministry of Highways for the project to repair part of the road network, a […]

Sept 28, 2011 (LBO) – The Sri Lankan agency for South Korea’s KIA Motors is to set up three more service stations within the Colombo metropolitan region and then go outside the capital as sales soar. KIA Motors (Lanka) has said it is to invest about a billion rupees in the next three years to […]

Sept 23, 2011 (LBO) – Registrations of new vehicles in Sri Lanka dropped in July 2011 to 43,725 from a high of 48,157 a month earlier, while 12-month growth slowed to 30. 8 percent from a 55.8 percent in June, official data showed. In July, new car registrations fell to 4,338 from 5,069 a month […]

Sept 22, 2011 (LBO) – A Sino-Lanka consortium that is to build a container terminal in Colombo’s new deep-water South Port has signed a deal with Sri Lanka’s investment promotion agency entitling it for tax breaks. Building of the 500 million US dollar terminal by the consortium consisting of China Merchants Holdings, Sri Lanka’s Aitken […]

Sept 21, 2011 (LBO) – Container cargo volumes at Sri Lanka’s Colombo port fell in July although still higher so far this year compared with the same period in 2010, with a noticeable downturn in transhipment traffic. The total number of containers fell 2. 6 percent in July 2011 to 354,054 TEUs (twenty-foot foot equivalent […]

Sept 21, 2011 (LBO) – The Sri Lankan agency for South Korea’s KIA Motors is to invest about a billion rupees in the next three years to expand its service facilities amid a surge in sales of sports utility vehicles. Imports of motor vehicles into the island surged after the government slashed import duties, some […]