Sri Lanka’s Hambantota Port signs terminal service agreement with Japan’s K-Line, first in the country
The Hambantota Port in Sri Lanka has reportedly said it has signed a terminal service agreement with Japan’s K-Line, which will lead to more vehicles being transshipped via the port.
Hambantota International Port Group (HIPG), a China – Sri Lanka joint venture that operates the port has reportedly stated that K-Line was one of the world’s largest Ro-Ro (roll or roll off car carrier) operators in the world.
“The TSA was a result of K Line’s decision to partner HIPG to improve their throughput via the Hambantota port,” as they service standard were reached and consistently maintained, HIPG has been quoted as saying in the local media.
According to the firm, it was the first terminal service agreement to be signed by any port in Sri Lanka with a Ro-Ro operator.
OSL take:
The signing of the agreement between the Hambantota Port and Japan’s K-Line is an encouraging sign on the development of Sri Lanka’s ports and aviation sector. A few days back, the Sri Lanka Ports Authority (SLPA) announced an impressive growth in the number of containers handled by the Colombo Port. The Sri Lankan government is committed to making Sri Lanka a hub in the Indian Ocean and the latest achievements of the Colombo and Hambantota Ports indicates that the country is closing in on achieving the target. All these developments would help Sri Lanka engage in trade activities with other countries. On the other hand, Sri Lanka could attract more cruise liners to the country by developing other harbors around the country and developing the required infrastructure facilities. The increasing investment opportunities in Sri Lanka’s ports and shipping sector should be explored by foreign businesses/investors.
| Article Code : | VBS/AT/17092018/Z_5 |