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Secretary of the Department of Ports, Naval and Air Services KDS Ruwanchandra stressed that Alphaliner, a renowned research institute in the shipping industry, ranked the Colombo Port as the fastest growing port in the world in the first quarter of 2024 due to its outstanding operational performance and a growth rate of 23.6%.
He added that the port generated $50 million in revenue in the first quarter of 2024, stressing that various actions taken by the union in the past have not hindered this progress.
Speaking at a press conference in the series titled “Two Years of Progress and the Way Forward” held at the Presidential Press Centre (PMC) today (29th), the Secretary General of the Ministry of Ports, Shipping and Aviation Services further elaborated;
“Firstly, I would like to highlight that the Port of Colombo has made significant progress in its operational performance, achieving an impressive growth rate of 23.6% in 2024. As a result, Alphaliner, the leading research publication for the shipping industry, ranked the Port of Colombo as the fastest growing port in the world in the first quarter of 2024. We have achieved this progress despite various actions taken by the unions, which have not hampered our operations.
In 2023, the Sri Lanka Ports Authority made a profit of US$100 million, and in the first quarter of 2024 alone, it made a profit of US$50 million.
All four terminals contribute significantly to these operations and are continuously working to increase their operational capabilities. Construction is ongoing at the Eastern Container Terminal (ECT) and the Western Terminal, with the Western Terminal expected to commence operations in February 2025.
In addition, development work is underway at the Eastern Terminal and Northern Port. Meanwhile, development projects are also underway at Trincomalee, Galle and Kankasanthurai Ports. A passenger ferry service from India is operating every Friday using the newly constructed terminal building at Kankasanthurai Port.
Airline operations improved by 25% compared to 2023, with significant increases in both passenger and cargo services. Air service arrivals increased from 36 in 2023 to 46 in July 2024.”
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