Category: Shipping and Transport
10,288 motor car registrations in Oct in Sri Lanka: JB Securities
Nov 11, 2015 (LBO) – October continued to recorded strong numbers for vehicle registrations in Sri Lanka although down from the record set in September, JB Securities said in a research note. LTV cap of 70 percent was in force during October so it may have had some impact on the slowdown, the note said. […]
Irregularity in bunkering leads to USD19.9mn loss to Hambantota Port
Nov 09, 2015 (LBO) – An irregularity which occurred at the Hambantota Port during the past administration has resulted in a loss of 19.9 million US dollars to Sri Lanka Ports Authority, the Ports Minister revealed.Ports Minister Arjuna Ranatunga said the irregularity is connected to an oil ship that was rejected by CPC due to […]
Aitken Spence to buy 20-pct stake in Fiji Ports Corporation
Nov 05, 2015 (LBO) – Sri Lanka’s diversified conglomerate Aitken Spence and Fiji National Provident Fund is planning to buy 59 percent stake in Fiji Ports Corporation, Aitken Spence said in a stock exchange filing.An agreement has been signed with the Fiji government to acquire the corporation, an entity wholly owned by the government which […]
Public investment in bus, railway a priority before monorail, says transport experts
Nov 05, 2015 (LBO) – From an economic standpoint, Sri Lanka should first develop its bus and railway transportation before spending public money on more expensive monorail, transport sector experts said at the LBR LBO Infrastructure Summit. A Japanese transportation master plan for Colombo, upgraded and approved by University of Moratuwa, envisaged three alternatives for […]
Sri Lanka to build a monorail, calls for proposals this month: BOI Chief
Oct 19, 2015 (LBO) – Sri Lanka’s investment promotion bureau said that the government plans to make a request for proposals this month to build a monorail or mass rapid transit system (MRT) that spreads out from Colombo Fort.“RFPs for the monorail project will be out within a week,” Upul Jayasuriya, chairman of the Board […]
Insufficient road capacity, reason behind car import restrictions: PM
Oct 19, 2015 (LBO) – Sri Lanka’s recent restrictions imposed on car imports were a response to the insufficient capacity of roads, Prime Minister Ranil Wickremesinghe said.In an interview with Singapore’s ‘Straits Times’, Wickremesinghe said currently it takes too long coming into Colombo. “The restrictions on car imports put in place recently were because police […]
Sri Lanka vehicle registrations hit another high in Sept: JBS
Oct 11, 2015 (LBO) – Vehicle registrations hit another all-time record on most categories barring 2-wheelers in September. In some categories the growth over the previous month is alarming, JB Securities said in a research note. Total motor car registrations recorded 14,301 units in Sep up from 9,107 units in Aug and a mere 3,539 […]
LBR LBO infrastructure summit announced to media
Oct 08, 2015 (LBO) – There is an urgent need to move forward with intelligent urban design and development if Sri Lanka aspires to make Colombo a regional hub.This was the call of the organizers of LBR LBO’s infrastructure summit “Making Colombo a Globally Competitive City,” which will be held on November 3rd and 4th […]
Sri Lanka to call bids for urban rail project soon-Updated
Oct 08, 2015 (LBO) – Sri Lanka will be calling for international competitive bids for its first urban railway project, Upul Jayasuriya, chairman of Sri Lanka’s Board of Investment told foreign media.Japanese foreign media reports quoted the BOI chief saying that the Sri Lankan government is considering introducing either monorails or subways, as traffic congestion […]
Sri Lanka vehicle prices to increase with new customs valuation basis
Oct 08, 2015 (LBO) – Sri Lanka’s finance minister has signed an extraordinary gazette to change the basis on which customs calculates the value of certain motor vehicles, and prices of some vehicles may increase by almost 50 percent, car dealers said.With this order the actual transacted FOB value of the vehicle has been excluded […]
Sri Lanka’s dream as a Maritime Hub has associated challenges
Sep 28, 2015 (LBO) – Sri Lanka’s first ever international maritime conference concluded over the weekend leaving policy makers an array of thoughts on how to transform the island into a Maritime Hub. The country legislated Colombo and Hambanthota ports as Free Ports two years ago but criticism over its prologue echoed at the recently […]
Sri Lanka Customs to implement Single Window System by end 2015
Sep 27, 2015 (LBO) – Sri Lanka Custom’s Single Window System is to be implemented by the end of this year, Finance Ministry said in a statement.The system enables the economic operators and trading partners to submit all import, export and transit information required by regulatory agencies via a single electronic gateway. Single window operation […]