DEC 2023
“Our industry is facing a new normal with subdued demand, prices back in line with historical levels, and inflationary pressure on our cost base.
Since the summer, we have seen overcapacity across most regions triggering price drops and no noticeable uptick in ship recycling or idling.”
US To Fund Sri Lanka Port Development
The US International Development Finance Corporation (DFC) has committed $553 million to support the development of a deepwater shipping container terminal in the Port of Colombo in partnership with John Keells Holdings and Adani Ports & Special Economic Zones Limited (APSEZ).
China has already funded a lot of infrastructure, including terminals in Colombo and Hambantota.
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