Colombo Port has been recognized as the World’s Best Growing Port for the first quarter of 2024 by Alphaliner, a leading global shipping and logistics news portal and research publication. The nomination highlights the port’s impressive increase in cargo volumes and revenue, achieving a remarkable growth rate of 23.6% in 2024, according to K. D. S. Ruwanchandra, Secretary of the Ministry of Shipping and Aviation.
“In the first quarter of 2024 alone, the Port of Colombo generated an income of US$ 50 million,” Ruwanchandra noted. “This achievement is particularly commendable given the various industrial actions initiated by unions during this period.”
The Sri Lanka Port Authority (SLPA) reported a profit of US$ 100 million for 2023, with US$ 50 million earned in the first quarter of 2024. The port also experienced a 29.1% year-over-year increase in transshipments in February, marking the third consecutive month of growth. Additionally, a new passenger ferry service from India now operates every Friday from the newly constructed terminal building at Kankesanthurai Port.
Chairman of SLPA, Keith D. Bernard, praised the contributions of all four terminals to this success. He also highlighted ongoing developments, including the construction of the Eastern Container Terminal (ECT) and the Western Terminal, with operations at the Western Terminal slated to commence in February 2025. Work is also progressing on the Eastern Terminal, Northern Port, and other regional ports, including Trincomalee, Galle, and Kankesanthurai.
Between January and June 2024, SLPA terminals saw a 23.6% increase in domestic volumes, a 15.5% rise in transshipment volumes, and an overall volume gain of 17.7%.