Posted on September 2, 2024
The Sri Lanka Ports Authority (SLPA) has addressed recent concerns regarding a perceived decline in transshipment volumes at the Port of Colombo, which some attribute to the expansion of regional ports in India.
While these regional ports are often viewed as competitors, the SLPA emphasizes the importance of collaboration within the industry. The authority, along with all terminal operators at the Port of Colombo, acknowledges the benefits of neighboring port expansions, which can help meet the evolving demands of the market collectively.
According to the SLPA, the fluctuations in transshipment volumes should be interpreted within the broader context of global supply and demand dynamics that impact ports worldwide.
Seasonal changes, coupled with global economic and social factors, have led to a temporary decline in cargo handling, not just at the Port of Colombo but at various international ports as well.
The SLPA clarified that this situation is not a result of increased competition but rather a common occurrence within the maritime industry.
In a positive turn, the Colombo Port has shown impressive growth in container handling for 2024, indicating a significant improvement in operational performance.
The SLPA reported a substantial increase in activity, handling 1.54 million TEU, which marks a 16 percent rise compared to the 1.32 million TEU processed during the same timeframe last year.
Similarly, SAGT has also recorded growth, processing 1.28 million TEU in 2024, an increase from 1.16 million TEU in 2023, reflecting a 10.4 percent rise.
The Colombo International Container Terminals (CICT) noted a more modest growth rate of 5.0 percent, handling 2.20 million TEU this year, up from 2.09 million TEU in 2023.
Overall, the Colombo Port experienced a growth of 9.6 percent, reaching a total of 5.02 million TEU in 2024, compared to 4.58 million TEU the previous year.
In a recent incident, the SLPA successfully averted a potential disaster when a fire broke out on the container vessel MSC Capetown III, showcasing their commitment to safety and operational integrity.
