Port constructions ahead of schedule - SLPA Chairman
Groundwork on Hambantota Port in progress
Providing a clear and practical definition to the vision of the
Government to develop Sri Lanka as a competitive Maritime and Logistics
Centre and leading the regional Maritime Sector, the Hambantota Port is
being completed ahead of schedule in 2011.
Chairman of Sri Lanka Ports Authority (SLPA) Dr. Priyath Bandu
Wickrama said that SLPA, very well ahead of the schedule and is planning
to complete the project by 2010. "We have Colombo Port Expansion Project
as far as Colombo is concerned, and have called for tenders to build one
terminal as well.
In addition we have already planned to have six gantry cranes and 30
transfer cranes. We have also commenced construction of the yacht Marina
and the passenger terminal at Galle Port as we are planning to promote
it as a centre of tourism. Steps have been taken towards the
construction of Oluvil Port as well. SLPA itself will invest US$1.6
billion which is almost Rs.16 billion on those projects," he said.
Hambantota Port Development Project was commenced on the 15th of
January last year with an estimated construction cost of US$361 million.
Currently, the cofferdam construction, caisson construction of
service quay wall, casting of concrete armour and construction of core
layer in break waters of the project have fully completed while 70% of
the construction of under layer in the break waters and 60% of the
construction of armour layer in the break waters have also been
completed. Four million Cu. m of the basin excavation of Hambantota Port
Project has also been done while 250,000 Cu. m of channel dredging has
also been completed.
The total consultancy of Hambantota Port Project is carried out by
SLPA. Ex-Im Bank of China provides 85% of the funding while the
remaining 15% is invested by SLPA.
Higher profits expected with freight rates rise
Thoresen Thai Agencies expects a recent rise in freight rates and a
return to profit at its overseas subsidiary to lift its third-quarter
results despite a market downturn.
"Given the recent recovery in global freight rates, I do believe that
our Q3 will actually be better than Q2," Managing Director Chandchutha
Chandratat told Reuters in an interview.
"Mermaid Maritime should also do reasonably well with the utilisation
rate of the sub-sea engineering division picking up. We had a bad
monsoon season in the past quarter," Chandchutha said, referring to a
quarterly net loss at its 58 percent owned Singapore-listed Mermaid
The unit contributes about 22 percent of its revenue. Last Friday,
the shipper posted a 95 percent drop in earnings to 99 million baht
($2.9 million) in the second quarter to March 31 dragging its earnings
for the first half of this year down to 996.3 million, a 79 percent
plunge from a year earlier.
"The impact (of the economic slowdown) has obviously hit everybody in
this business," Chandchutha added. REUTERS
DHL rolls out 'First Choice' in Sri Lanka
DHL Global Forwarding announced that plans to roll-out in Sri Lanka
the Group-wide program called 'First Choice' - a customer-centric
To be introduced in the third quarter of this year, 'First Choice' is
aimed at driving organic growth by building strong customer loyalty.
Employees are at the heart of the First Choice program, taking the lead
in the organizational shift toward superior customer orientation.
"First Choice is about keeping our promise of quality and delivering
service excellence to customers in order to be the preferred logistics
partner in the industry.
This is a powerful initiative which has transformed the way we do
business and it starts with every single employee, putting the
customer's interest in the centre of everything that they do", said
Global CEO of DHL Global Forwarding, Freight and Member of the Deutsche
Post DHL Management Board Hermann Ude. "I am delighted that Sri Lanka
will be rolling out the program this year, I am confident it will
deliver even higher levels of customer satisfaction, and cultivate a
culture where excellence and constant improvement are second nature," he
"It is our firm belief that a leading position in customer loyalty
will have a positive impact on revenue and earnings.
As the world's largest logistics group it is our relentless goal to
deliver best-in-class service and satisfaction to our customers to
maintain our edge as the market leader.
We recognize that customers who experience optimal service and
quality performance will develop strong partnerships with their
logistics providers," said Ude.
The workforce of more than 500,000 employees at Deutsche Post DHL is
the crucial factor in the success of First Choice.
Fleet size lifted
Mercator Lines (Singapore) said it will lift its fleet size by a
quarter to 15 by 2010 and sees increased coal demand from India giving a
boost to dry bulk shipping which is still likely to see lower freight
rates, after the sector has been hammered by the global slowdown.