Sri Lankan Trading and Maritime News

In terms of Sri Lanka trading and maritime news, there have been many events which have transpired. Protests have been conducting from different unions that oppose the privatization of the Kerawalapitiya Power Station to New Fortress Energy, which is a US based company. The likes of CEB, SLPA and CPC workers congregated to express their opposition towards the upcoming deal. With the economic crisis and foreign exchange instabilities and debt looming, the ways in which the situation is handled has been questioned by the protestors, with the common slogan “protect national assets” being the underlying theme.

In other Sri Lankan trading and maritime news, there have been many concerns with regards to rising inflation and forex instabilities, with the Central Bank of Sri Lanka maintaining its current policy interest rates. At this point, whilst the economy recovers post lockdown, there are concerns about rising prices of essentials. Delays in imports and lack of commodities such as milk powder have caused much commotion in the communities. Yet, despite the issues in imports, the exports market, specifically the merchandising exports sector has performed well in September of 2021 compared to that of the September 2020. Further, the pickup of the tourism sector is also promising as the country moves towards a sense of normalcy.

The need for safety and security within the shipping industry has also been brought to attention by an article published in the Daily FT by Nihal De Alwis, which raises the need for port risk assessments, mitigation and contingencies to be put into place to ensure that Sri Lanka is prepared for disasters, be it man-made or natural, as well as to navigate economic crisis that is ever evidently approaching on a global scale. However, together with India and the Maldives, maritime drills within the Indian Ocean were conducted to ensure the secure and safe passage for international trade. Named the “Colombo Security  Conclave (CSC) Focused Operation”, the three countries worked together to enhance and promote maritime security and cooperation towards ensure safety for commercial shipping and international trade and preparedness towards handling maritime incidents.

Keep yourself updated with upcoming Sri Lanka trading and maritime news with Transco Cargo Sri Lanka.