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    NTSB Investigation: Officers’ distraction causes vessels to collide

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    suez canal

    Tanker breaks down in Suez Canal causing brief disruption

    NAPA, Simwave to improve access to stability training for seafarers

    NAPA, Simwave to improve access to stability training for seafarers

    Lessons learned: Always ensure you have an accurate picture of the traffic situation before departure

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    DNV: How shipowners can meet EEXI compliancy when essential components are unavailable

    powercell hydrogen fuel cell

    ABS publishes requirements for hydrogen-fueled vessels

    reducing shipping emissions

    Intercargo: GHG regulations should regard the entire supply chain

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    Avance Gas signs contract for for two LPG carriers

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    Ship recycling: A solution for plastic pollution and environmental protection

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    Back To The Future: How Rotor Sails are now a credible option to tackle climate challenge

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    The EU’s objectives for sustainable shipping

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SAFETY4SEA

Sri Lanka wishes to undo deal lease port to China

by The Editorial Team
November 29, 2019
in Ports
port of Hambantota
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The new Government of Sri Lanka announced that it is keen to cancel its participation in China’s Belt and Road Initiative, cancelling the previous’ government’s move to lease the southern port of Hambantota to state-backed China Merchants.

Two years ago, the previous government leased the development of port Hambantota to China Merchants Port Holdings Co, meaning that the latter would handle the port for 99 years in return for US$1.1 billion (S$1.5 billion).

Today, Sri Lanka’s government led by President Gotabaya Rajapaksa highlighted that the port should be given back to the country.

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Specifically, Ajith Nivard Cabraal, a former central bank governor and an economic adviser to prime minister Mahinda Rajapaksa reported to Bloomberg that the ideal process would be that the Government pays its debt in due course, and China gives the port back.

RelatedNews

Merchant vessels support search for crew of Chinese fishing vessel

Manila’s new berth will accept vessels of up to 18,000 TEU

In the meantime, China’s Foreign Ministry issued a statement according to which “China-Sri Lanka cooperation, including the Hambantota port project, are built on the basis of equality and consultation”. This means that China is reluctant to give the port back.

Tags: ChinaOne Belt One Roadport expansionport upgrade

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