ECONOMYNEXT – Sri Lanka’s Colombo International Container Terminals (CICT), run by China Merchants Port Holdings (CMPH), said its container volumes grew 28% to two million in 2016, its second year of operations, from the year before.
“This new volume has enabled the Port of Colombo to register overall incremental growth in the three consecutive years since CICT came into operation,” the company said in a statement.
CICT said ULCCs (Ultra Large Container Carriers) and VLCCs (Very large Container Carriers), many of a size that only its Colombo South Terminal is capable of handling, had contributed 70 percent to the volumes it achieved in 2016.
“The incremental volume handled by CICT was one of the contributors to the overall throughput of the Port of Colombo growing by an estimated 11 percent in 2016, the company said.
CICT is currently the only deep water terminal in South Asia equipped with facilities to handle the largest vessels afloat.
“The overall growth achieved by the Port of Colombo bears out the rationale for CICT’s successful operation,” CICT Chief Executive Ray Ren said.
CICT General Manager – Commercial & Marketing Tissa Wickramasinghe said the achievement of 2 million 20-foot equivalent container units was made possible mainly by the synergies developed through its parent company China Merchants Port Holdings (CMPH).
“The ability to access the CMPH global network was the key factor in gaining and attracting new transhipment volumes to the Port of Colombo,” he said.
“With the introduction of new services and new shipping lines, CICT has set the trend for the Port of Colombo to stave off international competition for the highly sensitive and volatile transhipment cargo, in a depleted global shipping market.”
(COLOMBO, Jan 02, 2016)