South collaboration relevant in today’s maritime industry
India and Sri Lanka have the capability to engage in a shared vision in the regional maritime sector as the countries of the south need to collaborate to establish a regional maritime strategy, Indian Maritime University Vice Chancellor Dr. Malini Shankar said.
Addressing the annual Colombo International Maritime and Logistics Conference 2024 that kicked off on Wednesday, as Chief Guest she highlighted the achievements and advancements made by the two main countries in the region in terms of their capacities within the maritime sector.
She pointed out that the Colombo was unique in its ability to handle the ultra large vessels and its creating more strides in the sector with its ongoing expansions and modern facilities.
APM Terminals Chief Executive for Asia and the Middle East Jonathan Goldner spoke about the key trends and the shape the industry is likely to take in future.
He highlighted that the geopolitical shift has changed the sector in terms of the trade routes as vessels now are compelled to traverse past the Cape of Good Hope in avoiding the Red Sea crisis. This is likely to continue, he noted and observed the changing dynamics in the Middle East and added that the key world elections are likely to spell new policy changes as well.
“Volumes will shift and ports will be shock absorbers,” he said adding that Colombo as well will also absorb the shift in trade.
In addition with the shrinking labour force global terminal operators are seeing expanding operations causing an industry evolution.
Climate change with decarbonisation and bigger focus on ESG; digitalisation, modernisation and standardisation; carriers will have changing needs and increasing demands; and changing shipping line alliances.
Governor of the Western Province Hannif Yoosuf highlighted that Sri Lanka needs to bring in reforms; while ports are needed they also require ships to sail in.
The country’s Ease of Doing Business and thinking that could spill over to the Central Bank needs to be worked on to attract more investments.
Zero corruption could be achieved by adopting digitalisation as the government is looking at establishing Colombo like a Garden City. Mr. Yoosuf insisted: “Let’s get together, cut the crap and get things done!”
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