Colombo Port volumes drop
View(s):The Colombo Port has witnessed a drop in volumes in the first two months of this year compared to the same period in 2022 as a result of the general global slowdown and transhipment volumes.
In February there was a drop of 15.7 per cent in volumes at the Colombo Port with 482,775 TEUs achieved this year compared to 572,894 TEUs in 2022. In this month the drop was recorded for all three terminals as well. SAGT recorded a drop of 9.3 per cent with 124,305 TEUs handled in 2023 compared to 137,095 TEUs in the same month last year. CICT recorded a drop of 6.5 per cent having handled 235,108 TEUs in 2023 and 251,431 TEUs last year. JCT volumes dropped by 33.1 per cent for the same month with 123,362 TEUs handled in February compared to the same month last year in which 184,368 TEUs were handled.
The cumulative drop so far has been 15.4 per cent for both January and February months of this year.
In January the port handled 537,177 TEUs compared to 632,197 TEUs last year for the same month. Drops were also recorded in container handling volumes at the SAGT terminal (15 per cent) and CICT (6.2 per cent) for January as well. JCT also recorded a drop of 28.5 per cent.
Port authorities indicate that the general drop in global trade has also contributed to this drop in volumes in addition to Sri Lanka’s own restrictions on imports.
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