Business

World’s largest container vessel calls on Sri Lanka’s Colombo Port

Published

3 years ago

07/10/2021

MNN

There are only 24 ports in the world with the capacity to handle such mega vessels, with the Colombo Port being the only one in South Asia.

The world’s largest container vessel “Ever Ace” arrived at the Colombo Port in the Sri Lankan capital late on Tuesday, the Sri Lanka Ports Authority (SLPA) said.

According to officials at the SLPA, the vessel arrived to unload 1,600 TEUs at the Colombo international container terminal (CICT) in the port.

The vessel sailing under the flag of Panama is some 400 meters in length. It weighs about 235,000 tons and can carry 23,992 TEUs.

Photo taken on Oct. 6, 2021 shows the world’s largest container vessel “Ever Ace” at the Colombo Port in the Sri Lankan capital. (Photo by Ajith Perera/Xinhua)

SLPA said that there are only 24 ports in the world with the capacity to handle such mega vessels, with the Colombo Port being the only one in South Asia. Boasting a depth of 18 meters, CICT is the first and only deepwater terminal in South Asia capable of handling such large vessels afloat.

There are currently three container terminals in the Colombo Port — the Jaya container terminal (JCT) operated by SLPA, the South Asian gateway terminal (SAGT), and CICT, which is operated and managed by China Merchants Port.

As the only deepwater container terminal in South Asia, CICT has helped the Colombo port significantly enhance its position in the world shipping industry since its opening in 2013.

COLOMBO, Oct. 7 (Xinhua)

Business

Economic growth slowed down 4.7% in 2023.: MMA

Published

3 hours ago

08/05/2024

Maldives Monetary Authority (MMA) reports the economic growth slowed down 4.7% in 2023.

In its annual report, the central bank reported economic growth slowed owing to muddied performances in the tourism and construction industries.

While last year economic growth slowed 4.7%, it rose by 13.9% in 2022.

Tourism industry activity slipped last year because of the decline in the average duration of stay.

While tourism and construction industries, two of the major economic sectors, observed decline, other major sectors such as financial, fisheries, and private sector credit had gone up.

The Maldives government is taking corrective measures to rectify the economic growth, while President Dr. Mohamed Muizzu’s vision is to elevate the country’s national GDP to USD 12 billion, according to the Minister of Economic Development and Trade Mohamed Saeed.

Source(s): sun.mv

Business

TMA becomes first Asian operator to receive Havilland Certificate

Published

14 hours ago

08/05/2024

Trans Maldivian Airways (TMA), the world’s largest seaplane operator, receives De Havilland Canada’s endorsement certificate, making it the first operator in Asia to achieve the recognition.

At the official endorsement ceremony held last Sunday, De Havilland’s Chief Executive Officer Brian Chafe awarded the endorsement to TMA Chief Executive Officer A.U.M Fazy.

De Havilland owners Sherry Brideson and Robert McDonald, along with senior representatives of the Canada’s aerospace company and TMA officiated the ceremony.

TMA Chief Fauzy had thanked De Havilland’s continued support with its Twin Otters, elevating the operator’s success.

De Havilland CEO highlighted TMA’s success of completing two million flight cycles, which he added is unprecedented anywhere else.

The Canadian aerospace company affirmed continued support to TMA in future as well.

Source(s): sun.mv

Business

BML announce new MVR 1-mil loan facility without collateral

Published

2 days ago

06/05/2024

The Bank of Maldives (BML) on Monday officially announced the launch of two new home loan products; the Home Build Loan and the Home Equity Loan.

The new loan facilities have been introduced to cater to the growing customer needs for home construction and renovation, BML said.

The new Home Build Loan has been designed to allow individuals to borrow up to MVR 1 million without any additional security. The facility provides a repayment period of over 15 years, which is ideal in renovation projects or larger home construction projects across the Maldives.

The bank also, for the first time, has introduced Home Equity Loan for existing Home Loan and Financing customers. This new facility enables these customers to borrow up to the repaid amount, or the usable equity, of the primary loans. The Home Equity Loan is offered for borrowings of more than MVR 50,000 with a repayment period of 20 years.

Moosa Nimal, the Director of Retail and SME Banking said, “These products are designed to make access to finance easier for our customers across the country.”

“The new Home Build Loan does not require any additional security and will allow customers to build or renovate homes at the most competitive market rates. Our Home Equity Loan offers our existing home financing customers to access usable equity available on their property, at a low rate of just 10%.”

The newly introduced loan facilities are available for BML Islamic customers as well.

Source(s): sun.mv