By: Staff Writer
July 30, Colombo (LNW): The Port of Colombo has been recognized as the best-performing port globally for the first quarter of 2024 by Alphaliner, a leading information platform for the liner shipping industry. This accolade highlights Colombo’s remarkable growth rate of 23.6%, the highest among ports worldwide.
The Port of Long Beach in Los Angeles, with a 23.3% growth rate, secured second place, while the Port of Tanjung Pelepas came in third with a 22.7% growth rate.
In the first half of 2024, the Port of Colombo demonstrated impressive performance. Domestic volumes increased by 19.2%, transshipment volumes grew by 9.6%, and total volumes surged by 12.5% compared to the same period in 2023.
K. D. S. Ruwanchandra, Secretary to the Ministry of Ports, Naval, and Aviation Services, emphasized that Alphaliner recognized Colombo Port as the world’s fastest-growing port in the first quarter of 2024 due to its 23.6% growth rate.
Ruwanchandra noted that the port generated an income of USD 50 million in the first quarter of 2024, despite past trade union actions. He elaborated on this during a press briefing titled “Two Years of Progress and Way Forward” at the Presidential Media Centre.
He highlighted the port’s 23.6% growth rate and Alphaliner’s recognition of Colombo as the fastest-growing port. He also mentioned the port’s resilience in maintaining operations despite trade union actions.
In 2023, the Sri Lanka Port Authority reported a profit of USD 100 million, and in the first quarter of 2024, it achieved a profit of USD 50 million. All four terminals have significantly contributed to these operations, with ongoing efforts to enhance their capacity.
The construction of the Eastern Container Terminal (ECT) and the Western Terminal is progressing, with the Western Terminal expected to begin operations in February 2025.
Development work is also underway at the Eastern Terminal and Northern Port, as well as at Trincomalee, Galle, and Kankasanthurai ports. A passenger ferry service from India operates every Friday using the newly constructed terminal building at the Kankasanthurai Port.
The Sri Lanka Ports Authority (SLPA) terminals have been pivotal in driving this performance. From January to June 2024, SLPA terminals recorded a 23.6% increase in domestic volumes, a 15.5% rise in transshipment volumes, and a total volume growth of 17.7%.
The Port of Colombo, strategically positioned as a key maritime hub in South Asia, has several main container terminals, including the Jaya Container Terminal (JCT), Colombo East Container Terminal (CECT), South Asia Gateway Terminal (SAGT), and Colombo International Container Terminal (CICT).
These terminals collectively offer substantial capacity to handle increasing cargo volumes efficiently.
The JCT and CECT, operated by the SLPA, are equipped with state-of-the-art facilities and advanced technology to ensure smooth and rapid cargo handling.
The SAGT and CICT, operated by private entities, further enhance the port’s capacity and operational efficiency, making Colombo a preferred destination for major global shipping lines.
