Colombo Port saw a 23.6 per cent year-on-year increase in throughput in the first half
The Sri Lankan port of Colombo saw the highest growth in container throughput of any major global hub in the first half of this year, thanks to incremental gains from the diversion of ships from the Red Sea. The data shows that Colombo's throughput increased by 23.6 percent year-on-year in the first half of 2024, surpassing the Port of Long Beach in the United States, which grew by 23.3 percent in the same period.
The Port of Colombo is one of the busiest container hubs in Asia, with four main terminals: Jaya Container Terminal (JCT), South Asia Gateway Terminal (SAGT), East Container Terminal (ECT) and Colombo International Container Terminal (CICT), which is managed by China Merchants Port Holdings. The Sri Lanka Ports Authority (SLPA) highlighted the outstanding performance of its JCT and ECT terminals, which recorded a 23.6 per cent increase in throughput, a 15.5 per cent increase in transshipment and a 17.7 per cent increase in total throughput in the first half of the year. SLPA noted that the privately owned SAGT and CICT terminals have also contributed to the increase in throughput at Colombo Port.
But available data suggest capacity constraints are undermining Colombo's international competitiveness, with container ship arrivals at the port plunging 20 per cent in June and transshipment volumes down 5 per cent.
Congestion at the port of Colombo has caused transit containers to stay in the dock for up to 20 days, while the usual clearance time takes only a week. As a result, some vessels are bypassing the port of Colombo to benefit ports such as DP World Cochin (also known as ICTT or Varapadan) and Ennore on the Indian coast.
As a result, the Port of Cochin recorded a record throughput in February, handling around 75,200TEU, up 38% year-on-year; The volume of transshipment containers also soared from 22,000TEU to about 50,000TEU in April-June, underscoring its importance as a cargo transportation hub in South India.
However, it is worth noting that Colombo Port is planning to push ahead with the West Container Terminal (WCT) project, a joint venture between Adani Ports and John Keele Holdings, which can hold 3.5 million TEUs and is expected to be commissioned by the end of this year or early next year. At the same time, regional competition is intensifying, with Adani Ports actively trying to attract ships to trial its new port in southern India, Vizhinjam. Maersk and Mediterranean Shipping Company (MSC) are optimistic about the potential of New Viriam Port as an alternative to Colombo Port.
Suni Vaswani, executive director of the Container Shipping Lines Association (CSLA), pointed out that the Viriam port has a draft depth of 20 meters, the ability to dock very large container ships of 24,000TEU, and the proximity to the busy East-west international shipping axis, which is only about 175 nautical miles from the Port of Colombo, as significant advantages. He added: "Port Viriam is at the right time."
The Port of Colombo is one of the busiest container hubs in Asia, with four main terminals: Jaya Container Terminal (JCT), South Asia Gateway Terminal (SAGT), East Container Terminal (ECT) and Colombo International Container Terminal (CICT), which is managed by China Merchants Port Holdings. The Sri Lanka Ports Authority (SLPA) highlighted the outstanding performance of its JCT and ECT terminals, which recorded a 23.6 per cent increase in throughput, a 15.5 per cent increase in transshipment and a 17.7 per cent increase in total throughput in the first half of the year. SLPA noted that the privately owned SAGT and CICT terminals have also contributed to the increase in throughput at Colombo Port.
But available data suggest capacity constraints are undermining Colombo's international competitiveness, with container ship arrivals at the port plunging 20 per cent in June and transshipment volumes down 5 per cent.
Congestion at the port of Colombo has caused transit containers to stay in the dock for up to 20 days, while the usual clearance time takes only a week. As a result, some vessels are bypassing the port of Colombo to benefit ports such as DP World Cochin (also known as ICTT or Varapadan) and Ennore on the Indian coast.
As a result, the Port of Cochin recorded a record throughput in February, handling around 75,200TEU, up 38% year-on-year; The volume of transshipment containers also soared from 22,000TEU to about 50,000TEU in April-June, underscoring its importance as a cargo transportation hub in South India.
However, it is worth noting that Colombo Port is planning to push ahead with the West Container Terminal (WCT) project, a joint venture between Adani Ports and John Keele Holdings, which can hold 3.5 million TEUs and is expected to be commissioned by the end of this year or early next year. At the same time, regional competition is intensifying, with Adani Ports actively trying to attract ships to trial its new port in southern India, Vizhinjam. Maersk and Mediterranean Shipping Company (MSC) are optimistic about the potential of New Viriam Port as an alternative to Colombo Port.
Suni Vaswani, executive director of the Container Shipping Lines Association (CSLA), pointed out that the Viriam port has a draft depth of 20 meters, the ability to dock very large container ships of 24,000TEU, and the proximity to the busy East-west international shipping axis, which is only about 175 nautical miles from the Port of Colombo, as significant advantages. He added: "Port Viriam is at the right time."
