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Thursday May 23rd, 2024

Sri Lanka’s China-backed port starts container transshipment amid Red Sea crisis

MAIDEN CALL: MSC Ingrid sailing into Hambantota International Port to kick off container transshipment

ECONOMYNEXT – Sri Lanka’s China-backed Hambantota International Port Group said it had entered container transshipment, partnering with Switzerland based Mediterranean Shipping Company.

The container vessel MSC Ingrid made her maiden call at the port on April 09, coming from Rotterdam discharging 500 twenty foot equivalent units, kicking off the transshipment service, the company said.

“We are confident our container transshipment service will enhance Sri Lanka’s position in the marine connectivity index for the South Asian region,” Johnson Liu ,Chief Representative of China Merchants Group in Sri Lanka and CEO of HIPG said.

“With MSC’s collaborative partnership, HIPG will now look at expanding our investment in equipment and other infra-structure facilities, enabling us to service larger vessels on the east west shipping route.”

HIPG is a joint venture between China’s CM Ports group and Sri Lanka Ports Authority.

The boxes unloaded on April 09, will be picked up by another MSC vessel, ‘Sky 11’, on April 16 and be taken to Dubai.

Many mainline vessels that are by-passing Middle Eastern ports East of Suez and going around the Cape of Good Hope are discharging or picking up Middle Eastern cargo in Sri Lanka.

RELATED:

Sri Lanka sails in to the breach as ships by-pass Middle East over Houthi attacks

Sri Lanka container volumes surge 30-pct in Feb amid Red Sea troubles

Container volumes at Colombo also surged 29 percent in February.

“We plan to make optimal use of HIP’s strategic location, capacity and expertise, to deliver the full potential the port is capable of, doing our part to enhance Sri Lanka’s regional hub status,” Liu said.

Shamal Perera, Director-Operations and Regional Operations Manager-Colombo representing MSC Geneva, said his company was looking for best options for customers given the current situation in shipping.  

“As a forward thinking Carrier, MSC will always evaluate available options in order to be flexible in providing the best services to our customers,” Perera was quoted as saying in the statement.

Sri Lanka’s Ports Minister Nimal Siripala de Silva supported HIP in granting the required approvals to facilitate the shipping connectivity between Hambantota and the Port of Colombo, Liu said.

Through this approval, local importers and exporters would be able to make direct shipments or transshipment of cargo to and from Hambantota to Colombo, the port said.

“Given the climate change environmental concerns in the logistics and supply chain industry, the shipping connectivity between the two Ports will make a significant impact in reducing green-house gas emissions as opposed to road transport,” the port said. (Colombo/Apr09/2024)

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  1. Ravi says:

    Excellent news! One question. What is the proportion of our profit??

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  1. Ravi says:

    Excellent news! One question. What is the proportion of our profit??

Sri Lanka to speed up and expand Bingiriya export zone

ECONOMYNEXT – Sri Lanka is expanding an export processing zone in Bingiriya in Kurunegala and plans to link the area with Puttalam with roads and other infrastructure, Minister Bandula Gunawardana said.

A task force of ministerial secretaries will be appointed to carry out the tasks speedily, following a cabinet paper submitted by President Ranil Wickremesinghe said.

The Bingiriya zone already has 157 acres and another 282 acres is being developed by the Board of Investment, he said.

Steps would also be taken to acquire 666 acres.

There was no information whose lands would be acquired. (Colombo/May23/2024)

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Sri Lanka has power breakdowns amidst extreme weather

ECONOMYNEXT – The state-owned power utility, the Ceylon Electricity Board has reported over 36,900 breakdowns resulting in power interruptions to more than 300,000 consumers in the last three days due to inclement weather in the island, the power minister said.

“Additional service staff has been assigned to attend the breakdowns and the CEB management & service staff are working 24 hours to restore power to the affected consumers,” Minister of Power and Energy, Kanchana Wijesekera said on social media platform X (twitter).

Wijesekera said consumers could report power interruptions through the CEB hotline 1987, via SMS to 1987 with BD and the electricity consumer number to follow, or use the CEB Care app, or through http://cebcare.ceb.lk.

The South-East monsoon has seen floods, landslides and strong winds do damage to the utility provider’s infrastructure in the last week. (Colombo/May23?2024)

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Sri Lanka President calls for unity, sacrificing for a better tomorrow on Vesak day

ECONOMYNEXT – Sri Lanka President Ranil Wickremesinghe has recalled a sermon from the Buddha about sacrificing for a better tomorrow, and called for unity to heal and rebuild the country, as Buddhists celebrate Vesak.

Buddhists celebrate Vesak as commemorating the birth, enlightenment and passing away of the Buddha.

“At this challenging moment, we as a nation should cultivate the same great zeal for enlightenment that Buddha exemplified, inspired by his sermon, “Maththasukha parichchaga- passé che vipulan sukhan” – to sacrifice today for a better tomorrow,” President Wickremesinghe said in his Vesak day message.

“We must remember the advice of Lord Buddha, “Sabbattha Sammanaso,” to treat everyone equally and ensure we put it into practice as a country. This is the greatest offering we can present to the Buddha on this Vesak day.

“Regardless of race, religion, caste, or political affiliation, we must all unite to heal and rebuild our country. ”

The full statement is reproduced below:

The Vesak festival is a profoundly sacred day for Buddhists worldwide, commemorating the Buddha’s birth, enlightenment, and passing. Buddhists in Sri Lanka, along with their brethren around the globe, celebrate Vesak with deep devotion. They spend this period engaging in religious observances and venerating the Buddha with fervent devotion.

At this challenging moment, we as a nation should cultivate the same great zeal for enlightenment that Buddha exemplified, inspired by his sermon, “Maththasukha parichchaga- passé che vipulan sukhan” – to sacrifice today for a better tomorrow.

We must remember the advice of Lord Buddha, “Sabbattha Sammanaso,” to treat everyone equally and ensure we put it into practice as a country. This is the greatest offering we can present to the Buddha on this Vesak day. Regardless of race, religion, caste, or political affiliation, we must all unite to heal and rebuild our country. The principles of Lichchavi Raja Dharmaya will guide us in this endeavour.

Let us keep in mind that the primary aim of the Vesak festival is to foster spiritual growth and character development in a world rapidly advancing physically. I wish everyone a blessed Vesak festival.

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