Sri Lanka’s Hambantota Port signs terminal service agreements with top players in shipping industry
The Hambantota International Port Group (HIPG) in Sri Lanka has reportedly stated that it has signed Terminal Service Agreements (TSAs) with top players in the shipping industry in a bid to attract more vehicle cargo to the port
HIPG has signed a two-year TSA with Hyundai Glovis in January this year, followed by another TSA with Norwegian shipping company, Hoegh Line, and another international player for ‘RORO’ or roll-on, roll-off vehicle cargo business, a news release has stated.
According to the statement, vehicle carrier Glovis Sun sailing under the Marshall Islands flag helped Hambantota port, run by CM Port, reach its highest discharge volumes to date, when 5,000 transshipment vehicles were discharged in record time last month.
“The discharge operation was completed 22 hours prior to the expected time and the vessel was able to depart well before schedule the following day,” the statement has reportedly noted.
“The Glovis Sun was on a very tight schedule, therefore, the efficiency and quality service of the operation was an outstanding achievement for the port, especially on a vessel with such high volume,” Tissa Wickramasinghe, Chief Operating Officer of HIPG has been quoted as saying.
Ever since HIPG initiated talks for a TSA with Glovis and terms were agreed on, the shipping line’s volumes have been on the increase, as it took into account the port’s modern equipment, expertise, and service quality, the statement has further noted.
“After HIPG took over, facilities for RORO operations have been streamlined making it an attractive destination for transhipment,” Lalindra Fernando, Director of Sharaf Shipping Agency, local agents for Hyundai Glovis has stated.
“Hyundai Glovis, which mainly brings in vehicles from the east coast of India, has seen a growth in volumes and with the safety standards in the port being maintained, we believe that we can grow our business from HIP.”
OSL take:
Lanka’s Hambantota Port is a fast developing port in the country. With an industrial zone set up adjacent to It, the port provides an ideal location to set up manufacturing industries. Hence foreign businesses/investors could explore business opportunities in Sri Lanka’s Hambantota Port as well as other key ports.
| Article Code : | VBS/AT/06052019/Z_2 |