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Transshipment growth at Sri Lanka's Colombo Port slows down

05 Jun '24
2 min read
Transshipment growth at Sri Lanka's Colombo Port slows down
Pic: Adobe Stock

Insights

  • In April, the Port of Colombo saw its transshipment volume growth slowing down to single digits, after experiencing double-digit growth rates in the past four months.
  • In the month, transshipment volumes handled by the port grew by 8.1 per cent year-on-year to 525,936 twenty-foot equivalent units, recording the lowest growth rate since November last year.
In April, the Port of Colombo experienced a slowdown in transshipment volume growth, falling to single digits after enjoying double-digit growth rates over the previous four months. This change was influenced by disruptions in the Red Sea due to the activities of Yemen’s Houthi rebels.

During the month, transshipment volumes at the port increased by 8.1 per cent year-on-year, reaching 525,936 twenty-foot equivalent units (TEUs), marking the lowest growth rate since November last year.

Despite this, the overall container throughput at the Port of Colombo saw a 10.2 per cent YoY rise, totalling 626,926 TEUs, driven by increased imports.

Import container (laden) volumes rose significantly by 22.7 per cent YoY to 36,457 TEUs, while export container (laden) volumes grew by 6.6 per cent YoY to 21,816 TEUs.

Additionally, restowing volumes at the port surged by 60.9 per cent YoY, reaching 19,957 TEUs in April.

The port's fully operational deep container terminal, Colombo International Container Terminal (CICT), handled 268,513 TEUs during the month, a 7.8 per cent increase from the previous year while the Jaya Container Terminal (JCT) and the partially operational East Container Terminal (ECT), both managed by the Sri Lanka Ports Authority, collectively managed 184,286 TEUs in April, reflecting a 3 per cent YoY growth.

Meanwhile, the South Asia Gateway Terminal (SAGT) reported a substantial 23.5 per cent YoY increase in container volumes, handling 174,130 TEUs.

In April, the Port of Colombo was visited by 312 ships, a decrease from the 345 vessels recorded in the same month last year, which included 276 container cargo ships, five conventional ships, and 16 other cargo ships.

Fibre2Fashion News Desk (DR)

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