Category: Sri Lanka
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Wan Hai fire-hit boxship towed toward Middle East after 11 weeks adrift without refuge
Wan Hai fire-hit boxship towed toward Middle East after 11 weeks adrift without refuge The fire-damaged Wan Hai 503 is being towed across the Arabian Sea toward the Middle East after spending nearly 11 weeks stranded without a port of refuge, following rejections from both Sri Lanka and India. The 4,333 teu containership (built 2005)…
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X-Press Feeders fires back in $1bn Sri Lankan court fight
X-Press Feeders fires back in $1bn Sri Lankan court fight Singapore’s X-Press Feeders has hit back at the Sri Lankan Supreme Court’s order to pay $1bn within a year over the 2021 X-Press Pearl casualty, warning the decision tramples on due process, scapegoats its crew, and poses a dangerous precedent for global shipping. The feeder…
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Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster
Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster Sri Lanka’s Supreme Court has ordered the owners and operators of the X-Press Pearl container vessel to pay $1bn in compensation for the devastating environmental and economic damage caused when the ship caught fire and sank off Colombo in 2021. Described by the court…
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Indian shipbuilder buys majority stake in Sri Lanka’s largest yard
Indian shipbuilder buys majority stake in Sri Lanka’s largest yard India’s state-run Mazagon Dock Shipbuilders Limited (MDL) has announced its first international acquisition by securing a controlling 51% stake in Sri Lanka’s Colombo Dockyard for $52.96m. The Sri Lankan yard had previously been controlled by Japan’s Onomichi Dockyard which had been looking for investors to…
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Investors sought to take over Sri Lanka’s top shipyard
Investors sought to take over Sri Lanka’s top shipyard Japan’s Onomichi Dockyard is cashing out of Sri Lanka’s largest shipyard. The Japanese company intends to sell its 51% shareholding in Colombo Dockyard and end a management agreement that has been in operation for over three decades Colombo Dockyard is in preliminary discussions with a number…