Colombo Port transshipment growth slows in April.

The Red Sea crisis has significantly impacted the transshipment volumes at Colombo Port. According to the Daily Mirror, the port’s transshipment volumes recorded a growth of only 8.1% year-on-year (YoY) to 525,936 TEUs in April 2024, marking the lowest growth rate since November of the previous year, following consistent double-digit growth during the initial months of the year.

However, overall container throughput at Colombo Port remained positive. The port achieved a 10.2% YoY increase in total throughput, reaching 626,926 TEUs, with imports contributing largely to this growth. Import container volumes grew by 22.7% YoY to 36,457 TEUs, while export container volumes rose by 6.6% YoY to 21,816 TEUs.

Individual terminals within Colombo Port also showed varying performance. Colombo International Container Terminal (CICT) handled 268,513 TEUs, reflecting a 7.8% YoY increase. Jaya Container Terminal (JCT) and the partially operational East Container Terminal (ECT) together handled 184,286 TEUs, with a 3% YoY growth. South Asia Gateway Terminal (SAGT) performed the best, achieving a 23.5% YoY increase with 174,130 TEUs handled in April.

Source: Maritime Gateway