Ocean Network Express starts new EC5 route in South Asia
Singapore-based Ocean Network Express (ONE) has introduced its new EC5 route calling at the Port of Colombo, Sri Lanka, APM Terminals said in its press release. Headquartered in Singapore, Ocean Network Express was established on July 7, 2017 through the integration of 'K' Line, MOL and NYK. It’s new EC5 service was launched on April 23rd at the South Asia Gateway Terminal (SAGT) at the Port of Colombo. South Asia Gateway Terminal (SAGT), is owned by a consortium of local and global companies, including APM Terminals, which holds a 33% share. Opened in 1999, it was Sri Lanka’s first private terminal. It has seen almost continuous eyar-on-year volume growth and achieved a container throughput of 1.8 million TEUs in 2017.
China Harbour Engineering to invest $1 billion in Sri Lanka’s Port City
A consortium led by state-run China Harbour Engineering Company Ltd will invest $1 billion to build three 60-storey office towers on reclaimed land of the Port City development in Sri Lanka’s capital, a government minister said. The $1.4 billion development of Port City, a project of China Communication Construction Company (CCCC) (601800.SS), the parent company of CHEC, began in late 2016 as part of Beijing’s ambitious plans to create a modern-day “Silk Road” across Asia. “It will be part of the new financial city,” regional development minister Champika Ranawaka told reporters while accompanying Prime Minister Ranil Wickremesinghe on a inspection tour of the Port City development in Colombo. “The investment will be $1 billion and we expect to sign the agreements this month in Beijing.” CHEC officials were not immediately available for comment. Sri Lanka is preparing legislation with tax incentives to lure investment to the 269-hectare (665-acre) Port City tract. About 60 percent of its total area is reclaimed land from the sea in the commercial heart of Colombo, adjacent to the main port and the historic Galle Face Green park. The rest is expected to be reclaimed by June 2019. Source: Reuters
Sri Lanka’s CICT invests over USD10Mn in Green infrastructure at Colombo Port
Colombo International Container Terminals (CICT) said they have converted it’s diesel-operated rubber-tyred gantry cranes to electric, contributing to efforts by the Port of Colombo to go green. Costing more than 10 million US dollars, the project has resulted in CICT deploying 40 zero-emission E-RTGs at the company-managed Colombo South container terminal, achieving a 45 percent reduction in the terminal’s over all carbon dioxide emissions to the environment and a reduction of more than 95 percent in diesel consumption. The electrification of CICT’s rubber-tyred gantry cranes involved modification work of fitting electricity collector trolleys in the RTG cranes and constructing a Conductor bar system (Bus-Bar) in the terminal for the cranes to function with electricity.Upload News