Alphaliner, a prominent research publication in the shipping industry, has 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.
Secretary to the Ministry of Ports, Naval, and Aviation Services, K. D. S. Ruwanchandra said 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.
“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 ongoing 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,” he said.
Ruwanchandra further said, additionally, development work is underway at the Eastern Terminal and Northern Port.
He also revealed that development projects are being carried out at Trincomalee, Galle, and Kankasanthurai ports, adding that a passenger ferry service from India operates every Friday using the newly constructed terminal building at the Kankasanthurai Port.
Ruwanchandra went on to note that airline operations have also improved by 25% compared to 2023, with significant increases in both passenger and cargo services.
He added that the number of air service arrivals has risen from 36 in 2023 to 46 by July 2024.
The Secretary to the Ministry of Ports, Naval, and Aviation Services made the remarks when addressing a press briefing held at the Presidential Media Centre on Monday. (Newswire)
