Opportunity Sri Lanka | » Colombo Port achieves all-time high container handling in 2024
Colombo Port achieves all-time high container handling in 2024

Colombo Port achieves all-time high container handling in 2024

Daily FT/Economy Next: The Port of Colombo has achieved an all-time high container throughput of 7.78 million Twenty-foot Equivalent Units (TEUs) in 2024 surpassing 6.91 million TEUs handled in 2023.
The Colombo International Container Terminal (CICT) led the throughput volume with 3.35 million TEUs followed by Sri Lanka Ports Authority (2.4 million TEUs) and South Asia Gateway Terminals (SAGT) handling 2.01 million TEUs.
SAGT, a unit of Sri Lanka’s John Keells Holdings said it handled more than two million containers in 2024, which was twice its original design capacity of 1.1 million boxes.
The terminal is able to handle two million twenty-foot equivalent units (TEUs), due to the investments in technology and people, Chief Executive Romesh David said in a statement.
SAGT said the marine and other divisions of Sri Lanka Ports Authority, internal and external providers of trucking and lashing services, have contributed to reaching the target.
The two million throughputs have ranked SAGT among the best terminals in the world on the productivity indicator of TEU per Hectare of Yard, the firm said.
SAGT is planning to introduce a vehicle booking system to improve truck turnaround times, which it says are already at globally competitive levels, and help to reduce congestion in the entire port.
The system will allow shippers, consignees, truck drivers and other port users to manage container movements to and track container status via a mobile app.
SAGT will also install Optical Character Recognition (OCR) technology at the gate and quayside to speed up container processing.

OSL take:
Sri Lanka is aiming to achieve maritime hub status in the South Asian region supported by the country’s geographical positioning in the Indian Ocean in close proximity to the international shipping lanes and the strong trade ties as well as trade concessions enjoyed by the country with many foreign countries. All these have resulted in the expansion of business/investment opportunities in Sri Lanka’s maritime industry, especially in the ports, shipping and logistics sectors. The steady growth being recorded by the sectors in the country’s maritime industry have opened many new business/investment opportunities. The growth recorded by the country’s maritime industry also indicates the expansion in many fields in the maritime industry that range from the provision of technology and expertise to the development of infrastructure and supplementary infrastructure facilities. All these developments indicate the growing business potential in Sri Lanka’s maritime industry and related sectors as well as their lucrative nature given the growth and profits recorded by businesses that are already engaged in the industry. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in Sri Lanka’s maritime industry that would witness a continuous expansion given the growth drive while also looking at local collaborations to further expand operations.

Share this:

Article Code : VBS/AT/20250107/Z_3

    For More Info and Help






    Leave a Comment