By: Staff Writer
January 22, Colombo (LNW): The Port of Colombo achieved remarkable growth in 2024, with transshipment volumes rising 9.7% year-on-year (YoY) to a record 6.31 million twenty-foot equivalent units (TEUs), constituting 81% of the port’s container throughput.
This surge was partly driven by disruptions from the Red Sea crisis, which elevated the port’s role as a key transshipment hub.
Overall container throughput reached an unprecedented 7.78 million TEUs, marking a 12.1% YoY increase compared to the 6.91 million TEUs recorded in 2023. December alone saw transshipment volumes grow 5.4% YoY to 544,266 TEUs, continuing the upward trend.
Looking ahead, the Sri Lanka Ports Authority (SLPA) aims to exceed nine million TEUs in 2025. Expansions at the East Container Terminal (ECT) and Colombo West International Terminal (CWIT) are expected to increase capacity to over 10 million TEUs within the year.
Import container volumes rose by 23.5% YoY to 541,155 TEUs, while export container volumes grew by 6.2% YoY to 301,094 TEUs. Notably, restowing volumes hit a record high, climbing 49.6% YoY to 307,619 TEUs.
Among the port’s terminals, Colombo International Container Terminals (CICT), the sole fully operational deep-water terminal, handled 3.22 million TEUs, reflecting a modest 4.1% YoY growth.
The SLPA-operated Jaya Container Terminal (JCT) and the partially operational ECT processed 2.41 million TEUs, a significant 22.8% increase from 2023. The South Asia Gateway Terminal (SAGT) also showed robust growth, handling 2.02 million TEUs, up 14.9% YoY.
However, the number of container ships calling at the port fell by 9.5% YoY to 3,522, as some shipping lines rerouted vessels due to congestion and operational inefficiencies. The total number of ships visiting the port dropped 6.3% YoY to 3,968.
Conversely, conventional cargo and bunkering operations recorded strong growth, with conventional cargo vessels rising 68.8% YoY to 54 and bunkering ships increasing 68.2% YoY to 74, reflecting heightened demand for refueling.
The Red Sea crisis significantly boosted the port’s role as a transit point for rerouted shipping lines, particularly those avoiding disruptions and high insurance costs linked to Yemen’s Houthi conflict.
However, this boom period was followed by challenges, including severe congestion aggravated by trade union actions at Sri Lanka Customs.
These issues led to operational delays, reduced efficiency, and some shipping lines rerouting services. Despite these setbacks, congestion eased towards the end of the year, positioning the Port of Colombo for further growth in 2025.
