Red Sea crisis leads to 24 per cent increase in container traffic at Colombo port in Q1
The Sri Lanka Ports Authority (SLPA) has reported a record increase in container throughput at its operated ports from 441,032 TEUs to 52,766 TEUs in the first quarter of 2024, a 48 per cent increase over the same period last year.
The SLPA operated terminals reported a total of 582.403 TEUs of transhipment traffic in the first two months of the year, an increase of 49.81 per cent over the same period last year. This growth drove the overall transhipment volume at the Port of Colombo POC) to 1.72 million TEUs in the first two months of the year, an increase of 24.20 per cent over the same period in 2023.
SLPA said that the surge in containerised traffic was influenced by a number of factors, with the worsening Red Sea Crisis at the crux of the matter .
SLPA Chairman Keith Bernard Keth Bemprd stressed that many shipping companies have changed vessel routes to avoid problems in the Red Sea and the Suez River, and that the Port of Colombo is poised to become an important transhipment
The Port of Colombo is poised to become an important transhipment hub in the Middle East.
"SLPA staff and port workers are responding positively to the challenges," added Bernard.
Thanks to the efficient management of SLPA and the Port of Colombo, there has been a significant increase in traffic. Container traffic at the Port of Colombo increased significantly to 2 million TEUs, a 24 per cent increase year-on-year.
In addition, the completion of the second phase of the East Container Terminal (ECT) and the acquisition of a new quay bridge will further enhance the position of the Port of Colombo as a leading shipping powerhouse in the region.
The new bridge will enable the Port of Colombo to handle 24,000 TEU Ultra Large Container Vessels (ULCVs), which will result in a significant increase in throughput capacity.
In addition, SLPA's ongoing infrastructure development will further enhance the Port of Colombo's capacity and service standards. It is worth noting that on 29 April, the Chairman of Tianjin Port Group led a special delegation to visit the Sri Lanka Ports Authority (SLPA) and expressed his willingness to chapter to assist in the transformation of the Port of Colombo into a green port gateway.
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