The Port of Colombo is witnessing a substantial increase in transshipment container volumes as it becomes a crucial transit point for major shipping lines rerouting vessels around the Cape of Good Hope. This strategic shift aims to avoid disruptions following recent attacks on vessels in the Red Sea.
Sri Lanka Ports Authority (SLPA) reports a surge in ship calls to Colombo, with vessels opting for the longer route around Africa instead of the Suez Canal via the troubled Red Sea. SLPA Chairman Keith D. Bernard reveals an 80 percent growth in container volumes at the SLPA-owned terminal, reaching approximately 8000 TEUs per day.
Previously handling around 5000 TEUs daily, this surge in activity comes in response to heightened attacks on commercial vessels in the Red Sea. The Port of Colombo experienced a decline in transshipment volumes and overall container throughput in October and November of the preceding year.
Official data for the 11-month period ending in November shows marginal growth of 0.04 percent in container throughput, totaling 6.3 million TEUs. Despite recent gains, the port sets a target of 7 million TEUs for the current year, anticipating increased capacity with the semi-operation of the new East Container Terminal.
However, industry experts caution that these gains might not be sustained in the long term, emphasizing the importance of resolving the crisis in the Red Sea. While the Port of Colombo benefits from the current uncertainty, some shipping lines may opt for alternative routes or restructuring services based on short-term plans, creating a volatile situation in the maritime industry.
