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Vizhinjam port challenges Colombo’s dominance in transshipment.

September 15, 2024 at 3:21 pm | Uncategorized | No comment

Vizhinjam Port, with its strategic location and deep draft, is emerging as a potential competitor to Colombo Port in the transshipment sector. Approved in April 2024 to operate as India’s first transshipment port, Vizhinjam is equipped with advanced automation and infrastructure to handle Megamax container ships. In its initial phase, it will handle one million […]

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Port of Colombo welcomes EVER ARM milestone.

September 10, 2024 at 2:27 pm | Uncategorized | No comment

On September 5, 2024, the Port of Colombo welcomed the container vessel EVER ARM at the Colombo East Container Terminal (CECT), marking a significant milestone for South Asia’s busiest port. The vessel, part of Evergreen’s fleet, is on the China-Europe-Mediterranean (CEM) route and is designed to carry up to 24,000 TEUs. With a length of […]

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Colombo Port sees strong growth in 2024.

September 10, 2024 at 2:23 pm | Uncategorized | No comment

In 2024, the Port of Colombo saw a significant milestone, handling 1,541,034 TEUs, marking a 16% year-on-year growth. South Asia Gateway Terminals (SAGT) processed 1,281,642 TEUs, reflecting a 10.4% increase compared to the same period in 2023. On the other hand, the Colombo International Container Terminals (CICT) reported a 5% rise, reaching 2,200,956 TEUs. The […]

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Sri Lanka’s manufacturing, services growth slows August.

August 30, 2024 at 12:02 pm | Uncategorized | No comment

Sri Lanka’s manufacturing and service sectors continued to expand in August 2024, with both sectors reporting index values above 50, according to the Purchasing Managers Index (PMI) compiled by the central bank. The Manufacturing PMI was 55.5 in August, down from 59.5 in July, with growth mainly driven by the food and beverage manufacturing sector. […]

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Sri Lanka exports grow in August 2024

August 26, 2024 at 7:24 am | Uncategorized | No comment

Sri Lanka’s merchandise exports in August 2024 amounted to US$ 1,165.4 million, reflecting a 4.18% increase compared to the same month in 2023. This growth was primarily driven by higher earnings from key sectors including Apparel & Textiles, Tea, Rubber-based products, Coconut-based products, and Spices & Concentrates. Notably, Apparel & Textiles exports exceeded the US$ […]

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SeaLead launches new liner service Colombo.

August 24, 2024 at 4:15 pm | Uncategorized | No comment

SeaLead Shipping officially launched its new direct liner service in collaboration with the Sri Lanka Ports Authority (SLPA) on October 2, 2024, at the Port of Colombo. The service, named the Far East India Djibouti (FID) service, enhances maritime connectivity between the Far East, India, and East Africa. The inauguration ceremony saw prominent representatives from […]

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Maersk North America sees resilient market growth.

August 23, 2024 at 3:37 pm | Uncategorized | No comment

In the first half of 2024, global capacity utilization rose by 2% compared to the previous year, despite a significant 10.4% increase in containership supply. This suggests that container ports have maintained resilient growth, with the top 10 ports reporting a combined increase of 7.4%. However, challenges persist in the form of port congestion and […]

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Colombo Port sees 9.6% growth August.

August 22, 2024 at 3:11 pm | Uncategorized | No comment

The Sri Lanka Ports Authority (SLPA) has responded to recent media reports suggesting a decline in transshipment volumes at the Port of Colombo, which attributed the decrease to regional port developments in India. While acknowledging the media’s role in encouraging public debate, the SLPA clarifies that these reports misinterpret the dynamics of global supply chains […]

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BIA expansion resumes with JICA loan.

August 10, 2024 at 11:29 am | Uncategorized | No comment

Ports, Shipping, and Aviation Minister Nimal Siripala de Silva announced that the Japan International Cooperation Agency (JICA) has agreed to re-grant the concessional loan scheme to resume the construction of the second terminal at Bandaranaike International Airport (BIA) in Katunayake. The project had previously been halted due to economic challenges. citeturn0search1 The concessional loan amounts […]

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June 2024 External Sector Performance

July 31, 2024 at 6:08 am | Uncategorized | No comment

The external sector remained positive in the first half of 2024, supported by increased workers’ remittances and higher earnings from tourism. However, the merchandise trade deficit widened year-over-year in June 2024, though it showed improvement compared to May. Services sector inflows, excluding tourism, reached USD 1,762 million from January to June 2024, up from USD […]

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