Colombo Port recognized as world’s fastest-growing port in Q1 2024

The Secretary to the Ministry of Ports, Naval, and Aviation Services, K. D. S. Ruwanchandra, emphasized that Alphaliner, a prominent research publication in the shipping industry, recognized Colombo Port as the world’s fastest-growing port in the first quarter of 2024 due to its remarkable operational performance and 23.6% growth rate.

He added that the port generated an income of USD 50 million in the first quarter of 2024, emphasizing that the various trade union actions taken in the past did not impede this progress.

Addressing a press briefing held under the series titled “Two Years of Progress and Way Forward”, held at the Presidential Media Centre (PMC) today (29), Secretary to the Ministry of Ports, Shipping, and Aviation Services further elaborated:

“To begin with, I would like to highlight the significant progress in the operational performance of the Colombo Port, which achieved an impressive growth rate of 23.6% in 2024. As a result, Alphaliner, a leading research publication in the shipping industry, recognized the Colombo Port as the world’s fastest-growing port in the first quarter of 2024. We accomplished this progress despite various trade union actions, which did not hinder our operations.

In 2023, the Sri Lanka Port Authority reported a profit of USD 100 million, and in just the first quarter of 2024, it has already made a profit of USD 50 million.

All four terminals have significantly contributed to these operations, with on-going efforts to enhance their operational capacity. Construction of the Eastern Container Terminal (ECT) and the Western Terminal is in progress, with the Western Terminal expected to begin operations in February 2025.

Additionally, development work is underway at the Eastern Terminal and Northern Port. Meanwhile, development projects are being carried out at Trincomalee, Galle, and Kankasanthurai ports. A passenger ferry service from India operates every Friday using the newly constructed terminal building at the Kankasanthurai Port.

Airline operations have improved by 25% compared to 2023, with significant increases in both passenger and cargo services. The number of air service arrivals has risen from 36 in 2023 to 46 by July 2024.”

Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) Ltd. (AASL), said:

“By July 2024, there have been 4.3 million international passenger movements, and we anticipate that this number will reach around 9 million by the end of the next six months, reflecting a 26.10% growth compared to July 2023.

Additionally, international air traffic increased by 24.50% by June 2024 compared to June 2023, while air cargo movement rose by 28.96% in the same period. Our terminal handled approximately 10.8 million air passengers in 2018, but there are challenges in providing adequate facilities. Therefore, many short-term and long-term measures are currently being implemented to improve facilities for 8 to 9 million passengers.

The tender aims to improve the departure area of the first external terminal, with the award likely happening next month. Additionally, 30 more counters will be added to the departure area of the new building, along with the construction of four e-gates each for arrivals and departures, streamlining the immigration and emigration processes.

We expect to resume construction on the proposed second terminal for the Bandaranaike International Airport soon.

Negotiations with Japan International Cooperation Agency (JICA) are underway, and they are expected to provide the necessary loan facility by next month as promised. We plan to issue tenders by mid-September, begin construction by mid-next year, and complete it by the end of 2028, aiming to accommodate about 9 million more passengers.

The resignation of Air Traffic Controllers due to salary issues has been resolved with government intervention. However, approximately 80 Air Traffic Controllers have left the country. In response, the government has decided to recruit new Air Traffic Controllers. So far, a team of over 25 has been recruited, trained, and assigned to duty. Additionally, applications for another group have already been called.”

--PMD