Category: Shipping and Transport

Aug 15, 2011 (LBO) – A 35-year build operate transfer deal has been signed between state-run Sri Lanka Ports Authority and Colombo International Container Terminal (CICT), a Sino-Lanka joint venture, the firm’s major shareholder said. China Merchants International, a Hong Kong listed Chinese state-run firm which has a 55 stake in the terminal company said […]

Aug 11, 2011 (LBO) – Sri Lanka’s brand new automobile market is dominated by India’s Maruti and Toyota is leading the re-conditioned or imported used car segment, an analysis by J B Securities, a stock brokering firm, shows. Maruti/Suzuki sold 1,373 cars in July 2011, and on average sold more than 1,100 units each month […]

Aug 10, 2011 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company, an auto importer and distributor said net profits in the June 2011 quarter rose 321 percent to 636 million rupees with revenues growing 112 percent to 7.2 billion rupees. Sri Lanka’s vehicle imports are seeing a boom after taxes were cut on cars […]

Aug 05, 2011 (LBO) – A service station to repair and maintain hybrid cars in Sri Lanka, whose use has risen sharply after an import tax cut, has been set up in the capital Colombo. About 2,000 hybrid electric vehicles, which combine an internal combustion engine with electric motors to drive them, are already on […]

Aug 04, 2011 (LBO) – Profits at Sri Lanka’s Expolanka group, whose key business is in logistics, rose 15 percent to 273 million rupees in the June 2011 quarter from a year earlier, helped by lower interest and taxes, interim accounts showed. Finance costs fell 40 percent to 30 million rupees. The firm raised money […]

Aug 04, 2011 (LBO) – The Sri Lankan government has approved the award of contracts for manufacturing plants in a new port in the south where a remaining rock obstacle will be blasted soon to enable big ships to enter. “Port development takes a good 5-10 years to develop. Today we are competing with other […]

Aug 04, 2011 (LBO) – Metallurgical Corporation of China, a Chinese state-run building and engineering firm is to design and build a section of a highway around the capital Colombo that will connect three other expressways now under construction. The Colombo-Katunayake Expressway is to be completed by end of 2012 and the first two phases […]

Aug 04, 2011 (LBO) – Sri Lanka is to host an annual meeting of the international ports association alongside an air freight and shipping exhibition to promote the island as a logistics hub after the end of a war. “South Asia including Sri Lanka is expected to increase container throughput at a faster speed than […]

Aug 02, 2011 (LBO) – A newly started ferry service between India and Sri Lanka is becoming more popular and the group which operates the ferry from the Indian side, Flemingo Liners plans to add more services, an official said. Some passengers have also started to make use of a facility to take their cars […]

Aug 02, 2011 (LBO) – The Sri Lanka Ports Authority has started work on widening a bridge inside Colombo port to ease traffic congestion within the harbour caused by an influx of cargo as trade recovers after a war. We have fulfilled a long awaited requirement of purchasing new operation equipment. Currently, 03 new gantry […]

Aug 01, 2011 (LBO) – Singapore-based carrier Pacific International Lines (PIL) has added Sri Lanka’s Colombo port on its East Africa – Far East Service, with a weekly frequency calling on Fridays. The new service connects the Far East and East Africa and transshipment cargo from the Indian sub-continent, a Sri Lanka Ports Authority statement […]

July 31, 2011 (LBO) – An American salvage company has begun clearing wrecks from a port in Sri Lanka’s former northern war zone ahead of dredging and repair work that will enable resumption of commercial activity. Resolve Salvage and Fire (Asia), a Singapore subsidiary of US-based Resolve Marine Group, said it was awarded the contract […]