Container throughput at Sri Lanka’s Port of Colombo was up by over 9 % in April this year compared to the same month of 2018. Overall the first four months of this year saw growth in container volumes through the Jaya Container Terminal (JCT), South Asia Gateway Terminal (SAGT) and the Colombo International Container Terminal (CICT) combined rise by 5.9% compared to the January to April 2018 period.
Transhipment activity was particularly buoyant and rose by 8.6% in this four month period.
The Minister of Ports and Shipping, commenting on the increase in volume, welcomed the fact that the Sri Lanka Ports Authority (SLPA) has focused on fast-tracking strategic decisions regarding the expansion of the Colombo’s capacity.
Recent reports have suggested the first phase of the new East Container Terminal (ECT) could be operational by the second half of next year.
The facility will be operated by a new company that will be jointly formed by Sri Lanka Ports Authority (SLPA), and partners nominated by the governments of Japan and India. The first phase is expected to boost capacity at the port by around 0.8 million teu a year. Japan is likely to provide a US$500-800 million soft loan at low interest rates, to enable the project to be completed within the next year.