Daily Mirror (Sri Lanka)

SLPA container volumes expand 48% YOY in 1Q24

„Increase attributed to various factors, including the Red Sea crisis and its wider implicatio­ns „Total transshipm­ent volumes expand 24.20% YOY

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The Sri Lanka Ports Authority (SLPA) yesterday announced that it achieved a record 48 percent Year-on-year (YOY) increase in container volumes in the first quarter (1Q24).

The numbers increased from 441,032 TEUS to 652, 766 TEUS. This increase can be attributed to various factors, including the Red Sea crisis and its wider implicatio­ns, the SLPA said.

SLPA’S transshipm­ent volume for the initial three months of this year reached 582,403 TEUS, reflecting a growth of 49.81 percent compared to the same period last year.

This increase contribute­d to the overall rise in Port of Colombo’s (POC) total transshipm­ent volume, which reached 1,729,314 TEUS for the first three months of this year, representi­ng a 24.20 percent growth compared to the same period in 2023.

Sri Lanka Ports Authority (SLPA) Chairman Keith Bernard emphasised that the port is poised to become a key transshipm­ent serving the Middle East, as many shipping lines are rerouting vessels to avoid prevailing risks in the Red Sea and the Suez Canal.

“SLPA staff and workers have handled this situation diligently and efficientl­y, in the face of challenges,” he said.

SLPA and the Port of Colombo (POC) have effectivel­y managed the situation which has resulted in a significan­t increase in throughput. The Port of Colombo (POC) experience­d a substantia­l surge in volumes, reaching 2,002,077 TEUS, a notable increase of 24 percent. This demonstrat­es the port’s ability to attract more volumes and establish a position as a leading shipping hub in the region.

Furthermor­e, the completion of the East Container Terminal (ECT) Stage II and the acquisitio­n of new ship-toshore cranes will further enhance POC’S position as a leading shipping hub in the region. The new cranes will enable the port to handle ultra-large GMX 24 ships, allowing it to accommodat­e higher volumes in the future.

Additional­ly, ongoing infrastruc­ture developmen­ts by SLPA will further strengthen Port of Colombo’s competitiv­eness in attracting more volume and enhancing its capabiliti­es in handling larger vessels.

 ?? ?? Jaya Container Terminal
Jaya Container Terminal
 ?? ?? Keith Bernard
Keith Bernard

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