The Sri Lanka Ports Authority (SLPA) has cleared the recent claims indicating a decrease in transshipment volumes at the Port of Colombo, which is attributed to regional port expansions in India.
Regional ports are portrayed as rivals, which ignores the industry’s cooperative character. The SLPA and all terminal operators at the Port of Colombo embrace the expansion of neighbouring ports, recognising the potential it provides to fulfil the market’s developing demands collectively.
The present volatility in transshipment volumes should be seen in the context of global demand and supply changes, which affect ports globally, according to the port authority.
Seasonal variations, combined with global economic and social dynamics, have caused a temporary dip in cargo handling, not only at the Port of Colombo but across numerous international ports.
The SLPA noted that this is not a consequence of competition but rather a common and recurring feature of the maritime industry.
In 2024, the Colombo Port has demonstrated robust growth in container handling across its terminals, reflecting a significant uptrend in operational performance.
SLPA has recorded a notable increase, handling 1.54 million TEU, a 16 per cent rise from the 1.32 million TEU processed in the same period of the previous year.
SAGT has also experienced growth, with a total of 1.28 million TEU in 2024, up from 1.16 million TEU in 2023, representing a 10.4 per cent rise.
The Colombo International Container Terminals (CICT) recorded a relatively modest growth rate of 5.0 per cent, processing 2.20 million TEU this year, up from 2.09 million TEU in 2023.
Overall, Colombo Port grew by 9.6 per cent, reaching 5.02 million TEU in 2024, up from 4.58 million TEU the year before.
Recently, SLPA successfully prevented a potential disaster after a fire broke out aboard the container vessel MSC Capetown III.