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 […]
Read moreSeptember 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 […]
Read moreAugust 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. […]
Read moreAugust 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$ […]
Read moreAugust 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 […]
Read moreAugust 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 […]
Read moreAugust 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 […]
Read moreAugust 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. citeturn0search1 The concessional loan amounts […]
Read moreJuly 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 […]
Read moreJuly 26, 2024 at 12:33 pm | Uncategorized | No comment
Sri Lanka’s Port of Colombo has achieved remarkable success this year, securing the highest growth rate in container volumes among leading global ports. This impressive performance has been driven by a combination of factors, including incremental gains from diversions of vessels from the Red Sea region. According to recent data, Colombo saw a significant year-on-year […]
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