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| Tuesday, 13 January 2004 |
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Ceylon Shipping Corp to be restructured soon COLOMBO, Monday (Lankapuvath) - Public Enterprises Reform Commission (PERC) has earmarked Ceylon Shipping Corporation Limited as one of the public enterprises to be restructured. The management and employees of Ceylon Shipping Corporation Limited through the respective trade unions, have highlighted to the Government the necessity and importance of Government keeping a control over the national carrier, a senior official of PERC told Lankapuvath. With the continuous growth of the Chinese economy and strengthening of the Euro, which increases the buying power of European consumers, a surge of cargo movements from China and other far Eastern Countries to Europe, is seen. Simultaneously supply of shipping space into the market has been tight with the result that freight rules in the Far East to Europe trades are on the increase. New ship deliveries are not expected to be in the market before end of next year and hence it is forecasts that this positive trend from ship owners point of view, will continue well in to 2005. Shipping sources say that in this context this is an ideal opportunity for Ceylon Shipping Corporation Limited to expand her business if the Government's restructuring plans for Ceylon Shipping Corporation gets under way in the right direction. |
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