People’s Bank loan to purchase two Chinese ships

Thursday, 29 May 2014

The Ceylon Shipping Corporation (CSC) 

has reportedly signed a US$ 70 million (over Rs. 9.1 billion) loan agreement with the state-owned People’s Bank to purchase two 63,600 MT DWT bulk cargo-carrying ships from China.

The two ships will be built by AVIC International Beijing Company Limited of China.

The first ship is to be delivered on October 31, 2015 and the second on January 31, 2016.

There are plans to use the ships for transporting thermal coal imported for the coal power plant in Norochcholai.

The agreement was signed by Navy Commander Vice Admiral Jayanath Colombage, who is also the Chairman of the Ceylon Shipping Corporation, and the General Manager of the People’s Bank Wasantha Kumar.

According to local media reports, these ships are also specially designed to add an extra deck at an extra cost, to accommodate around 25 persons in addition to its standard crew complement, with the view of providing mandatory onboard sea-training for nautical and engineering cadets.

SF files a case against Gotabaya

Thursday, 29 May 2014

Former Army chief Sarath Fonseka, in a petition submitted to the court of appeal, claims the UDA has taken over in an authoritarian manner, a plot of land given him by the government after the war victory 2009. Sarath Fonseka said it was an illegal take over by the defence secretary using his unlimited powers, as he had not been informed about it, nor had been paid any compensation.

Making submissions, the ex-commander said he was given the property at Kirmandala Mawatha, Colombo, on a government decision to grant land to commanders of the three armed forces, according to BBC Sandeshaya.

The court granted leave to proceed with the case, with the lands minister being ordered to file any objections before June 19.