The Sri Lanka Ports Authority (SLPA) has responded to recent concerns about a perceived decline in transshipment volumes at the Port of Colombo, attributed by some to the expansion of regional ports in India. While these ports are often seen as competitors, the SLPA highlights the importance of collaboration within the industry. The authority, along with terminal operators at the Port of Colombo, acknowledges that the expansion of neighboring ports can collectively help meet evolving market demands.
The SLPA explains that fluctuations in transshipment volumes should be understood within the broader context of global supply and demand dynamics impacting ports worldwide. Seasonal variations, combined with global economic and social factors, have led to a temporary decline in cargo handling, not only at the Port of Colombo but also at various international ports. This situation, according to the SLPA, is a common occurrence within the maritime industry and not the result of increased competition.
On a positive note, the Port of Colombo has demonstrated impressive growth in container handling for 2024, signaling a significant boost in operational performance. The SLPA reported handling 1.54 million TEU, reflecting a 16 percent increase from the 1.32 million TEU processed in the same period last year.
Similarly, the South Asia Gateway Terminals (SAGT) recorded a 10.4 percent growth, processing 1.28 million TEU in 2024, up from 1.16 million TEU in 2023. The Colombo International Container Terminals (CICT) also saw a growth of 5.0 percent, handling 2.20 million TEU this year compared to 2.09 million TEU in 2023. Overall, the Port of Colombo achieved a growth rate of 9.6 percent, reaching a total of 5.02 million TEU in 2024, up from 4.58 million TEU the previous year.
In a recent incident, the SLPA demonstrated its commitment to safety and operational integrity by successfully averting a potential disaster when a fire broke out on the container vessel MSC Capetown III.
–Agencies
