As of August 2024, Colombo Port’s container handling has seen notable growth: SLPA increased by 16%, SAGT by 10.4%, and CICT by 5.0%, contributing to an overall port growth of 9.6%
The Sri Lanka Ports Authority (SLPA) has noted recent reports in certain local media outlets suggesting a decline in transshipment volumes at the Port of Colombo, attributing this to regional port developments in India. While we respect the media’s role in fostering public discourse, these reports misrepresent the reality of the global supply chain and port operations.
The portrayal of regional ports as competitors overlooks the cooperative nature of the industry. The SLPA and all terminal operators at the Port of Colombo welcome the development of neighbouring ports, recognising the opportunities it presents to collectively address the evolving needs of the market. The current fluctuation in transshipment volumes should be viewed within the broader context of global demand and supply adjustments, which impact ports worldwide.
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. 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. The Sri Lanka Ports Authority (SLPA) has recorded a notable increase, handling 1,541,034 TEUs, a 16% rise from the 1,327,925 TEUs processed in the same period of the previous year. SAGT has also seen growth, with a total of 1,281,642 TEUs in 2024, compared to 1,160,462 TEUs in 2023, marking a 10.4% increase. Conversely, the Colombo International Container Terminals (CICT) experienced a more modest growth rate of 5.0%, handling 2,200,956 TEUs this year, up from 2,096,456 TEUs in 2023. Overall, Colombo Port achieved a cumulative growth of 9.6%, reaching 5,023,632 TEUs in 2024, compared to 4,584,843 TEUs the previous year. If this trend continues, 2024 is set to surpass previous years, further solidifying Colombo’s position as a key player in the region.
This data reinforces our conviction that the Sri Lanka Ports Authority remains firmly on course, propelled by operational efficiency and the positive momentum of global recovery, with the Port of Colombo standing as a critical and indispensable force in the global supply chain, ensuring stability in both regional and international trade.
Sri Lanka Ports Authority | 26 August 2024
