Maersk Line signs three-year Terminal Service Agreement with SLPA
The Morning: In a step toward strengthening Sri Lanka’s position as a regional maritime hub, Maersk Line has signed a three-year Terminal Service Agreement (TSA) with the Sri Lanka Ports Authority (SLPA).
The agreement is expected to foster business growth, enhance operational efficiency, and pave the way for stronger collaboration between the global shipping leader and Sri Lanka’s premier port operator.
Through this partnership, Maersk Line will continue to utilise SLPA terminals for its regional operations, benefiting from Colombo’s strategic location at the crossroads of major East West shipping routes.
The TSA reflects Maersk’s confidence in the service quality and operational standards maintained by SLPA, while also reinforcing Port of Colombo’s (POC) status as a key transshipment hub in South Asia.
Officials from both sides highlighted that the agreement will not only ensure greater service reliability but also contribute to long-term growth prospects with the upcoming Colombo East Container Terminal (CECT) development.
Once fully operational, CECT is expected to significantly enhance capacity and efficiency, offering shipping lines including Maersk expanded opportunities to scale up operations.
At the moment POC is equipped with CECT, CICT and CWIT 1 to cater for the needs of Maersk’s caliber vessels which guarantee schedule reliability. The partnership demonstrates the growing trust between SLPA and international shipping lines, positioning Colombo as a preferred port of call in the region.
Industry stakeholders expect this collaboration to generate new prospects for trade facilitation, job creation, and improved competitiveness for Sri Lanka in the global maritime sector.
OSL take:
Sri Lanka’s strategic positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the target of becoming a hub in the South Asian region, have all helped boost the country’s maritime industry and related sectors like ports, shipping and logistics. The increasing operations at the key ports located in the country as well as the growth and profits recorded by SLPA are clear indications that Sri Lanka’s maritime industry is on a steady growth path, thereby presenting many lucrative business/investment opportunities. The growing business potential in Sri Lanka’s maritime industry is evident by the increasing international shipping lines calling at Sri Lanka’s ports as well as TSAs signed between SLPA and international shipping lines. All these developments also indicate the increasing business/investment opportunities in the development of infrastructure and supplementary infrastructure facilities required by the growing demand in sectors like ports and shipping. With Sri Lanka already identified as an emerging business destination with interest being shown by many foreign businesses/investors, foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka’s maritime industry and related sectors.
| Article Code : | VBS/AT/20250903/Z_3 |