Sri Lanka’s SAGT nearly doubles design capacity handling 2mn containers
Dec 19, 2018 17:32 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – South Asia Gateway Terminals (Pvt) Ltd (SAGT), Sri Lanka’s first private terminal in Colombo port, said it had handled two million 20-foot equivalent containers, almost double is design capacity.
Over the last five years SAGT has averaged around 1.7 million TEUs (twenty-foot equivalent container units) a year, a statement said.
Its previous highest volume was 1.9 million TEUs achieved in 2009 and 2010. It did two million TEUs on 19 December 2018.
“The achievement of 2 million TEUs in a single year is a first for the company and particularly significant considering the terminal’s original design capacity was assessed at just 1.1 million TEU,” the company said.
“The continued narrowing of the supply and demand for terminal capacity in the port, means this achievement enables additional capacity in support of the Port of Colombo’s growth aspirations,” SAGT’s chief executive Romesh David said.
SAGT’s achievement of 2 million TEUs generated over a 940 metre quay length, provides the best operational yield per metre of quay length in the port of Colombo and in the South Asia region, the statement said.
South Asia Gateway Terminals (SAGT) is the first Public Private Partnership container terminal in Sri Lanka.
It has about 60 percent Sri Lankan shareholding with stakes held by John Keells Holdings and Sri Lanka Ports Authority.
Other shareholders include Maersk/APM Terminals and Evergreen Marine Corporation.