Category: Shipping and Transport

July 07, 2011 (LBO) – Sri Lanka’s vehicle registrations were up 65.2 percent in May 2011 to 41,862 from a year earlier, with total registrations also up 65 percent to 200,415 in the first five months of the year, official data shows. Car registrations rose 10 times to 5,173 in May, motor cycle imports were […]

July 06, 2011 (LBO) – A new deep-water terminal in Colombo port will help Sri Lanka take advantage of increasing Indian cargo volumes, said the head of a local firm doing the project in a joint venture with a Chinese company. Parakrama Dissanayake, chairman of Aitken Spence Maritime, said Indian efforts to modernise its own […]

July 01, 2011 (LBO) – Sri Lanka based SOLAS Marine has won an order for 80 fast interception craft from the Indian Navy in a deal valued at 3,000 million rupees (67 million Us dollars), a media report said. The Times of India newspaper said the boats would be delivered over three years. FICs have […]

June 30, 2011 (LBO) – Sri Lanka’s motor sector companies’ profitability has fallen after the reversal of some import tax cuts that caused a profit surge, although vehicle demand remains strong with rising incomes and economic growth, a report said. Motor sector companies reported the highest growth in net profit for the last couple of […]

June 28, 2011 (LBO) – Sri Lanka’s logistics industry has warned that lengthy delays in automating cargo clearing procedures were eroding the island’s competitiveness as it seeks to position itself as a cargo hub. “It now takes too much time and money to get things done. We must look at ways and means of improving […]

June 24, 2011 (LBO) – Sri Lanka’s bus fares have been raised by 7.6 percent from July 01, following discussion between authorities and bus owners, though a key bus-owner union wanted a higher increase, reports said. The minimum fare for buses would go up to seven rupees from the current six. Minister C B Ratnayake […]

June 24, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) has secured a 700 million US dollar investment to build a ‘port city’ on land reclaimed on the capital’s seafront with the construction of a new harbour. SLPA chairman Priyath Wickrama said material dredged to build the new port next to the existing Colombo […]

June 23, 2011 (LBO) – Lengthy delays in entering Colombo port are making Sri Lankan truckers providing services to move cargo containers unprofitable, an official said. “The question to us is why the present infrastructure is not being used. It is a serious issue. If well-managed, we will be able to cut down cost by […]

June 23, 2011 (LBO) – State-run Sri Lanka Insurance Corporation will develop and run rest areas on a tolled expressway running from the capital Colombo to Galle in the south of the island, a government minister said. The completed highway will run to Matara at the southern tip of the island. Minister Anura Yapa said […]

MUMBAI, June 17, 2011 (AFP) – Efforts to refloat a stranded cargo ship that ran aground off one of Mumbai’s most popular beaches last weekend failed on Friday, officials said. The MV Wisdom has been stranded at Juhu beach since last Saturday after it slipped its moorings to a tug that was towing it to […]

CAIRO, June 17, 2011 (AFP) – An Egyptian boat seized with its 22-member crew by pirates off the coast of Somalia in August 2010 has been freed, an Egyptian foreign ministry official said on Friday. Abdel Hakam did not elaborate or give details on the health of the crew — 11 Egyptians, six Indians, four […]

June 17, 2011 (LBO) – Sri Lanka’s government is to allow private bus operators to raise fares, private transport services minister C B Ratnayake said. Government authorities were making preparations for the fare hike, he told a forum on transport, without saying by how much fares would rise. “We are preparing a revision of bus […]