Sri Lanka records increase in container handling at Colombo Port from a year earlier
The Colombo Port in Sri Lanka has reportedly handled 604,400 containers in September 2019, which is a 5.1 percent from a year earlier, with weak imports in both Sri Lanka and India in the wake of monetary instability in 2018.
In the nine months to September, the Colombo Port has reportedly handled 5.427 million twenty foot equivalent units (TEUs), which is a 3.9 percent from a year earlier.
Domestic container volumes have increased 2.5 percent to 108,735.
Volumes in the first seven months have reduced 7.2 percent to 943,442 as Sri Lanka imports fell amidst a credit collapse.
Transshipment volumes have increased 5.2 percent to 483,240 TEUs in September and total volumes had increased 5.5 percent to 4.366 million TEUS.
In September 2018 Colombo’s transshipment volumes have grown 12.8 percent to 459,211 TEUs, and total volumes in the nine months were up 19.5 percent amid double digit import and export growth in India.
OSL take:
Sri Lankan authorities have been working towards making the island a maritime hub in the Indian Ocean. Given the latest developments in Sri Lanka’s ports, shipping and logistics sectors, business/investment opportunities in these sectors have also expanded during the past few months. Foreign businesses/investors could therefore explore business/investment opportunities in these sectors and also look at supplementary infrastructure development in these sectors.
| Article Code : | VBS/AT/20191126/Z_4 |