Sri Lanka Ports Authority records 16.6 percent increase in the handling of 20 foot container units in 2018 when compared with 2017
The Sri Lanka Ports Authority (SLPA) has reportedly stated that the country’s Colombo port handled seven million 20 foot equivalent container units (TEUs) in 2018, which is a 16.6 percent increase from 2017.
By December 30 Colombo port had reportedly handled 7,027,300 containers, up from 6,209,000 in 2017.
According to reports, Colombo had been the fastest growing major container port in the world in the first half of 2018, clocking up 15.6 percent growth.
The seven millionth TEU was brought by MV CPO Hamburg of the MSC Line, a statement by the SLPA said.
By the end of this year the transshipment volumes of the Port of Colombo has increased by 19.3 percent, Secretary of the Ministry of Ports, Shipping and Southern Development and the Chairman of SLPA Parakrama Dissanayake has been quoted as saying.
The SLPA has stated that one million TEU increase took only a year compared with longer periods earlier, he told a ceremony to mark the occasion.
The Port of Colombo has handled seven million containers with joint marketing strategies by three terminals, Jaya Container Terminal (JCT), the South Asia Gateway Terminal (SAGT), and the Colombo International Container Terminal (CICT).
Minister of Ports, Shipping and Southern Development Sagala Rathnayake, speaking on the occasion, has said that helping to establish democracy was absolutely essential to help industries like shipping to grow.
“If there is no confidence in judiciary and if there is no confidence in the institutions, these industries cannot grow as then there would be no confidence in the country,” he has said.
OSL take:
The statement by the SLPA and the growth momentum recorded by the Colombo Port in Sri Lanka is indicative of the increasing maritime business in the country. Sri Lanka’s geographical positioning in the Indian Ocean makes the country an important location in the global maritime industry. The Sri Lankan government is also working on developing the country to become a hub in South Asia. Therefore, foreign businesses/investors could explore business opportunities in Sri Lanka’s maritime sector as well as investment opportunities related to the developments in the country’s ports and shipping industry.
| Article Code : | VBS/AT/01012019/Z_2 |