SLPA sees growth despite news reports of decline

Thursday, 29 August 2024 02:04 - - {{hitsCtrl.values.hits}}

The Sri Lanka Ports Authority (SLPA) has responded to recent news reports suggesting that the Port of Colombo is losing business to Indian ports, asserting that such claims misrepresent the actual situation.

In a statement issued by the SLPA, it noted that these reports fail to accurately capture the port’s operational status and the broader dynamics of the global shipping industry.

“Seasonal changes and global economic conditions have caused a temporary drop in cargo handling, not just at the Port of Colombo but at many other ports worldwide. This is normal in the shipping industry and is not due to an apparent competition at present,” it reads.

Discharging of new equipment for the East Container Terminal (ECT) at the Port of Colombo affected normal container operations at the ECT for a brief period but this was temporary. Also adverse weather conditions in Colombo affected some of the scheduled ship movements within the port, however all these could not significantly impact the volumes handled at the Port of Colombo.

In 2024, the Port of Colombo has shown strong growth in handling containers, with a significant increase in operations. The Port of Colombo (POC) handled 5,023,632 TEUs in 2024, compared to 4,584,843 TEUs the previous year, marking an increase of 9.6%. The steady growth of volumes has established Colombo as a major regional player.

SLPA emphasised that the port is on the right track, driven by efficient operations and the global economic recovery. The Port of Colombo is a key part of the global supply chain, playing a vital role in both regional and international trade.