Port of Colombo to be hub of South Asia says Sri Lanka Ports Authority
The Morning: Sri Lanka Ports Authority (SLPA) Chairperson Keith D. Bernard shared information on growth prospects for Colombo and other Sri Lankan ports given the competitive and geopolitical scenarios.
He emphasised the development plans for the Port of Colombo, which include the construction of new deep-draft container terminals with automated container yards, the enhancement of logistics facilities through public-private partnerships (PPP), the creation of larger zones dedicated to logistics development, the introduction of a port community system (PCS), and the expansion of the Colombo North Port.
“With these initiatives, we are confident in the Port of Colombo’s evolution as the Maritime Logistics hub of South Asia,” he said.
Bernard made these remarks at the 14th All India Maritime and Logistics Awards (MALA) on 21 August, which he attended as chief guest.
MALA has emerged as the authoritative recognition of quality service, best practices and innovation; both among companies and individuals in the various segments of the maritime and logistics sector.
Selected by a jury comprising some of the leading lights of the fraternity, it is recognised as an award of the sector, by the sector for the sector.
This year’s event brought together all stakeholders to recognise and honour the outstanding contributions of individuals and organisations in the cargo and logistics sector in over 40 categories.
The event also offered a platform to interact and network with leading logistics service providers, manufacturers, exporters and importers, supply chain professionals, shippers and consignees, as well as associated government officials and regulators.
Several dignitaries at the event also shared their invaluable insights on the evolving geopolitical landscape and its impact on global ocean container freight rates.
OSL take:
Sri Lanka’s geographical positioning in the Indian Ocean which is in close proximity to the international maritime lanes and the many trade agreements as well as trade concessions enjoyed by Sri Lanka with other countries have all helped boost the country’s maritime industry. It is these reasons that have placed Sri Lanka in a good position to achieve maritime hub status in the Indian Ocean region. The steady growth recorded by key ports island wide, especially the Colombo Port, Hambantota Port and the Trincomalee Port are indicative of the overall growth in Sri Lanka’s ports sector, especially on the path to becoming a maritime hub. All these developments have also resulted in the expansion of business/investment opportunities in Sri Lanka’s ports sector. These opportunities range from direct to indirect opportunities covering development and supplementary development programmes. The Sri Lankan government has already launched several development programmes in the key ports. These projects also present opportunities for businesses to look at providing technical assistance to raw materials for them. Given the steady growth in Sri Lanka’s ports sector, foreign businesses/investors could confidently explore the business/investment opportunities while also looking at forming joint ventures or partnerships with local businesses aimed at further expansion.