Sri Lanka’s Colombo Port Becomes The World’s Fastest Growing Port In Q1 2024
Colombo Port has been designated as the world’s fastest-growing port for the first quarter of 2024 by Alphaliner, a leading shipping industry research publication.
The recognition came after the port experienced an astounding 23.6% growth rate throughout the period.
K. D. S. Ruwanchandra, Secretary to the Ministry of Ports, Naval, and Aviation Services, praised the port’s outstanding performance despite earlier labour union strikes that did not affect the progress.
The port generated USD 50 million in the first quarter of 2024, contributing to a total profit of USD 100 million for the year 2023.
Ruwanchandra also discussed ongoing initiatives, such as the Eastern Container Terminal (ECT) and the Western Terminal, which are planned to open in February 2025.
In addition, work on the Eastern Terminal and Northern Port is underway, as are development projects at the Trincomalee, Galle, and Kankasanthurai ports.
A new passenger ferry service from India departs every Friday from Kankasanthurai Port.
In the aviation sector, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) Ltd. (AASL), announced that international passenger movements reached 4.3 million by July 2024, indicating a 26.10% increase over the same period in 2023.
International air traffic arrivals increased by 24.50%, while air cargo volume increased by 28.96%.
Galketiya also revealed plans to resolve facilities issues at Bandaranaike International Airport, where building on a second terminal is expected to begin soon.
The airport, anticipated to accommodate around 9 million additional passengers by the end of 2028, will undergo modifications such as new counters and e-gates to simplify processes.
Negotiations with the Japan International Cooperation Agency (JICA) for the necessary loan facility are expected to be completed next month.
Efforts are underway to address staffing concerns in air traffic control, which has seen 80 controllers resign due to payment issues. The government has hired over 25 new controllers and is currently seeking more.
Air Vice Marshal Sagara Kotakadeniya (Retd), Director General of Civil Aviation & CEO of the Civil Aviation Authority of Sri Lanka (CAASL), Chairman of the Sri Lanka Ports Authority (SLPA) Keith D. Bernard, and Director General of the Merchant Shipping Secretariat Gen. Ajith Wijesinghe, among other officials, attended the press briefing at the Presidential Media Centre as part of the “Two Years of Progress and Way Forward” series.
Reference: PMD
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