Shipping article(s)
Global schedule reliability continues to increase in 2025
Global schedule reliability continues to increase in 2025
Sea-Intel: Major ocean carriers profitability around US$5.9B in Q1 2024
Gebrüder Weiss expands into Thailand
DP World, VIMC Lines launch domestic coastal logistics service
Singapore, France ink enhanced maritime partnership agreement
CMA CGM launches first fully-electric container barge in Vietnam
MSC container ship sinks off India coast
Port of Savannah container trade up 17% in April
DP World to launch US$2.5B logistics infrastructure investment in 2025
Port of Long Beach sees record April, warns of sharp May drop amid tariff impact
Suez Canal introduces rebates to regain containership traffic
CMA CGM warns extended China-US tariffs could disrupt global trade
U.S. slashes ‘de minimis’ tariff on small China parcels to 30%
LA, Long Beach ports warn of continued tariff uncertainty
China-US deescalation may spur early peak season
Yang Ming: US-China trade deal may spur demand, but uncertainty persists
US-China tariff pause offers temporary relief, could fuel another frontloading rush
Transpacific shipping faces capacity cuts as trade war escalates
Houthi ceasefire raises prospect of container traffic returning to Red Sea
Kale Logistics to develop Oman's national port community system
PSA BDP takes majority stake in Mexico’s ED Forwarding
Xeneta: ‘Ships for America Act’ adds more uncertainty to container shipping market
JAFZA marks 40 years with record US$190B in trade
Seafrigo expands multi-modal services to support global expansion
US port fees to have minimal impact on Transpacific niche carriers
Port fo NY/NJ is busiest US port in March
S&P: Liner shipping contributes US$1.1T to U.S. GDP
deugro Thailand delivers critical reactors for sustainable fuel production
Emirates Shipping Line joins World Shipping Council
Japanese shipyards may benefit from US port fees on Chinese vessels
MOL opens office in Washington, D.C.
Red Sea disruptions push shipping carbon emissions to record high in 2024
Port of LA expects a double-digit volume decline in the second half amid tariffs
DP World sources 65% of its electricity from renewables in 2024
Hapag-Lloyd: 30% of China’s US-bound shipments canceled
Port of Antwerp-Bruges says impact of US tariffs minimal for now
COSCO says planned US port fees threaten shipping, global supply chains
Yang Ming extends lease at Kaohsiung Port, acquires new containers
Transpacific sees surge in blank sailings amid escalating tariffs
UNCTAD: Global economic growth may slow to 2.3% amid mounting pressures
Port of Long Beach becomes the busiest U.S. port in Q1
IMO approves net-zero regulations for global shipping
India ends transshipment facility for Bangladesh exports
US softens stance on proposed port fees for Chinese vessels
Adani’s Colombo Terminal commences operations
Gemini shuttles hit 98% schedule reliability in February
Airfreight demand from China, Hong Kong to the US declines as rates rise
ZIM signs long-term charter deals for 10 LNG-powered 11,500-TEU vessels
Georgia Ports’ container trade grew 22.5% in March
CMA CGM inks AI deal with Mistral AI
Port of New York and New Jersey reports second-busiest February
Maersk's APM Terminals acquires Panama Canal Railway Company
ICS: Proposed US port fees on Chinese vessels to severely disrupt supply chains
PSA looks ahead to strategic developments in 2025 after record-breaking 2024
Hapag-Lloyd makes Philippine inaugural at ICTSI Manila
Yang Ming acquires three methanol dual-fuel ready vessels
Maersk shares updates on upcoming US reciprocal tariff plan
ONE highlights need for adaptability in volatile markets
WorldACD: Global air cargo rates rise as post-NY market rebounds
Chinese shipbuilder unveils LNG dual-fuel vehicle carrier
SATS partners with Guangtai to innovate ground support technology
SC Port's Inland Port Greer expands capacity by 50%
Hong Kong exporters remain positive despite growing trade tensions
Singapore opens applications for methanol bunkering licence
Tariff turmoil persists, though ocean freight rates continue to decline
UN agencies express grave concern over increased satellite interference
Baltic Hub welcomes multiple new services
Port of Savannah achieves busiest February on record
UK freight association seeks solutions to uninsured cargo
Rotterdam, Singapore boost green, digital shipping partnership
MSC announces standalone East/West network
Singapore, India ink deal to boost maritime digitalisation, decarbonisation
World Shipping Council calls on the U.S. to drop its planned port fees
Port of NY/NJ secures landmark lease extension with APM Terminals
Container rates slip amid signs of overcapacity
SC Ports expands weekly services with new ocean carrier deployments
Port of LA reports continued growth in shipments for February
Sea-Intel: Major ocean carriers profitability around US$60B in 2024
Adhira Shipping and Logistics sees continued demand for Cape Size carriers
Matadi Gateway Terminal expands hybrid equipment fleet
MPA, CMA CGM sign MoU to boost sustainable shipping, digital innovation
China, Hong Kong raise concerns over Hutchison Ports deal
Houthis ban U.S. vessels from the Red Sea; Trump vows end to the aggression
Hapag-Lloyd's port arm buys stake in terminal operator in Le Havre
MOL makes major stride in developing ammonia-powered carrier
WorldACD: Flat markets slightly above last year's levels
Frontloading continued to drive volume growth at the Port of Long Beach
Yang Ming plans regional route expansion amid evolving trade tensions
Malaysia's Sin-Kung Logistics eyes air cargo with Prima Air acqusition
Tianjin Port eyes increased container throughput to 35M TEUs by 2035
ILA-USMX officially sign six-year port contract through 2030
U.S. tariffs to accelerate relocation of factories to South, Southeast Asia
Singapore launches new standard on methanol bunkering
MOL strengthens chemical logistics business with new acquisition
MOL launches 1st onshore supply of green hydrogen produced at sea
DP World and Mawani inaugurate US$800M terminal in Jeddah
CMA CGM to invest US$1B for new Chicago air cargo hub
Trump halts Canada, Mexico tariffs again for another month
Trump unveils plans for new office of shipbuilding
CK Hutchison sells int'l ports business to BlackRock, MSC for US$22.8B
CMA CGM's first dual-fuel methanol vessel makes maiden call at Singapore
Alibaba, Maersk partner on container shipping services
Rating
SRI LANKA FOREIGN MINISTER OUTLINES NEW DIRECTION FOR FOREIGN INVESTMENT
March 25, 2015
Mangala Samaraweera and John Kerry
Sri Lankan Foreign Minister Mangala Samaraweera met with US Secretary of State John Kerry at the State Department during his February visit to Washington.

When Sri Lankan Foreign Minister Mangala Samaraweera made a road trip to Washington in February, his goal was to build better relations and economic bonds with the US and attract investment.

With the new Sri Lankan government only in power since January this year, Samaraweera spoke strongly about the need for a peaceful transition of government in his country. “We elected our new president by ballot, not bullet,” he said.

While in Washington, he met with US Secretary of State John Kerry and members of the press.

While the US is the single largest export market for Sri Lanka (33%), relations between the two nations have not always been good. In recent years the United States has been critical of Sri Lanka’s human rights record brought on by decade’s long civil war that finally came to a halt in 2009.

Nevertheless, scores of US companies base their operations throughout Sri Lanka, making the United States Sri Lanka’s second largest foreign direct investor behind China.

To set the new government on a different track, its leaders have presented an ambitious 100-day program that includes “far-reaching democratic reforms and constitutional amendments.” The program is expected to be in place in March.

In addition, the new government is making efforts to wean its reliance away from funding from China. Samaraweera insisted to the media in Washington that the Sri Lanka government is re-examining key projects in which China plans to invest, such as the US$1.5 billion Port City project in Colombo. But reports later indicated that, despite hesitations, the government is still allowing China to push ahead with the project that is said to have become a symbol of Chinese influence on Sri Lanka.

India, in particular, has concerns about the project, however. The Telegraph of Kolkata reported in January that the Indian government views the project “as a critical component of Chinese President Xi Jinping’s proposed Maritime Silk Route – a new, Beijing-dominated sea trade corridor.”

The Chinese were also responsible for building a US$500 million container terminal at Port Colombo, which opened there in 2013. China Development Bank provided a US$350 million loan to terminal operator China Merchants Holdings International. The Hong Kong conglomerate holds an 85% stake in the terminal.

The terminal is billed as being able to handle 2.4 million containers a year and as part of Sri Lanka’s plan to add 7.2 million boxes of capacity and deeper berths at its main port to attract larger vessels.

But Samaraweera stressed that many of those projects do not follow proper procedures. “In fact, the Port City project did not go through the proper environment assessments,” he emphasized. “Now such projects will be reviewed.”

He added, however, that the Chinese-built the port projects were and are not under review because they were and are Chinese-funded, developed, and operated.

Seaports are critical to Sri Lanka’s US$76 billion economy. Its garment industry alone is worth some US$4.5 billion. Other important exports are  tea, apparel, textile, rice production and other agricultural products.

Sri Lanka enjoys a strategic location for logistics. Located midway in the Indian Ocean on one of the world’s busiest international shipping lanes, the country is already a key transit point for cargo.

That is one reason Samaraweera stressed in Washington that Sri Lanka needs more than foreign aid, development and high interest loans from China. “We are seeking more investment from countries like the United States,” he said. “We welcome foreign direct investment, and I hope that now that Sri Lanka is creating the environment conducive for investors, more will come.”

Samaraweera noted that Sri Lanka faces competition from other South and Southeast Asian nations, pointing out that Myanmar, for example, is currently attracting a great deal of FDI after spending years as a pariah country under its former military government. “They are not the only girls on the beach,” he said.

While the new Sri Lanka government is still getting a handle on what it will offer in terms of incentives, Samaraweera emphasized that what held FDI back under the last government was the world view that Sri Lanka was an emerging dictatorship. “The country cultivated oppression and suppression of the media,” he said.

Today he maintains that the first step for attracting FDI is ensuring that Sri Lanka’s rule of law and democratic fundamentals are re-established. “Beyond that, there will also be many incentives.”

 

By Karen E Thuermer

Correspondent | Washington

Verification Code:
cialis 2 5mg tadalafilise.cyou/#
cialis 2 5mg tadalafilise.cyou - 2023-08-20
cialis 2 5mg tadalafilise.cyou/#
cialis 2 5mg tadalafilise.cyou - 2023-08-20
All comments have been shown