The Port of Colombo is gearing to increase its capacity by 1.5 million TEUs by next year as it is currently facing an excess demand contributing to continued growth.
Sri Lanka Ports Authority (SLPA) Chairman Dr. Parakrama Dissanayaka told the Sunday Times Business that the port is investing US$35-50 million to procure new cranes.
These straddle carriers are set to be made available by August / September 2027, he said adding that this will increase capacity by half a million TEUs. In this respect, he said the SLPA will be carrying out the procurement processes within next month.
Further the Adani-run Colombo West International Terminal (CWIT) is expected to increase capacity by 1 million TEUs, he noted.
This year the port is set to achieve 9 million TEUs and the demand for Colombo Port is continuing as growth has exceeded 12 per cent, he noted.
“We have become a victim of our success,” Dr. Dissanayaka said adding that they are constantly in touch with shipping lines that are clearly satisfied with the service levels at the port. The Colombo Port is currently witnessing a demand that is above 70 per cent of its capacity and that is what is causing the congestion, the SLPA chairman said.
He noted that volumes are not increasing by accident and volumes are increasingly seeing a growth mainly at the West Terminal.
Sri Lanka is basking on its performance levels at the Colombo Port as it ranks 20th among the top world container ports. This was achieved following the port’s 11.9 per cent year on year growth and which has been brought on from container handling that was recorded during the first half of this year. At present the Colombo Port has a capacity of 10 million TEUs.
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