Sri Lanka Ports Authority (SLPA) records notable growth in 2023
By: Staff Writer
January 22, Colombo (LNW): The Sri Lanka Ports Authority (SLPA) had notable development in 2023, which is a result of its effectiveness and strategic alliances. It has handled 1,965,128 TEUs overall in 2023, a 2% increase over the 1,925,895 TEUs handled by SLPA in 2022.
The SLPA anticipates positive growth in container operations, despite a percentage drop in global container volumes in 2022. SLPA is optimistic that the present growth rates will persist with the expected improvement in import and export activities in the global market and the gradual recovery of the country’s economy.
In 2023, the Port of Colombo (POC) operated 6,951,003 TEUs, marking a 1.17% growth compared to the 6,862,184 TEUs handled in 2022.
The recent growth at the SLPA can be attributed to increased efficiency levels at its terminals that include the Jaya Container Terminal (JCT) and the East Container Terminal (ECT) and their ability to attract new services, establishing connections with new Terminal Services Agreements (TSA) with shipping lines.
SLPA expressed confidence in attracting more services at its terminals. This confidence will be reinforced by the successful completion of constructions at the East Container Terminal (ECT) and the JCT-V project in near future.
SLPA also extends appreciation to all the stake holders including shipping lines, both Main Line Operators & Feeder Operators and especially the management and employees of SLPA who had done a yeoman service during the period.
Sri Lanka Port Authority (SLPA) has made a profit of Rs. 35 billion in 2023 and he attributed this increase to exchange gain as the dollar was trading higher than the present rate.
The Chairman of the authority also said the SLPA is now charging in US dollars and to date is the highest foreign exchange earner among State Owned enterprises in Sri Lanka.
SLPA which was paying a loan installment to China towards the construction of the Hambantota harbour is no longer shouldering this burden as the Treasury has taken over the obligation to settle it.
He said the much awaited West Container Terminal (WCT) project undertaken by the Adani Group of India with its local partner John Keells Holdings, together with SLPA, is progressing as a 35-year Build-Operate-Transfer (BOT) project.
The USD 700 million project is expected to complete construction in the second quarter of 2025. and this would be a very viable venture for both Sri Lanka as well as the Adani group since out of the 80% transshipment business done by Colombo Port 70% goes to India. Out of this 35% goes to Adani operated Ports.
He also said that 20% progress has been made in the construction of the East Container Terminal (ECT) of Colombo Port and is scheduled to be completed in the second quarter of 2025. Total investment would be around Rs. 600 million and is expected to be completed by the end 2024.