Colombo Port recognized as World’s Fastest-Growing Port in Q1 2024

Secretary to the Ministry of Ports, Naval, and Aviation Services, K. D. S. Ruwanchandra, emphasized that Alphaliner, a prominent research publication in the shipping industry, recognized Colombo Port as the world’s fastest-growing port in the first quarter of 2024 due to its remarkable operational performance and 23.6% growth rate.

He added that the port generated an income of USD 50 million in the first quarter of 2024, emphasizing that the various trade union actions taken in the past did not impede this progress.

Addressing a press briefing held under the press briefing series titled “Two Years of Progress and Way Forward”, held at the Presidential Media Centre (PMC) yesterday (29), Secretary to the Ministry of Ports, Shipping, and Aviation Services further noted that operational performance of the Colombo Port achieved an impressive growth rate of 23.6% in 2024.

As a result, Alphaliner, a leading research publication in the shipping industry, recognized the Colombo Port as the world’s fastest-growing port in the first quarter of 2024. We accomplished this progress despite various trade union actions, which did not hinder our operations, he said.

In 2023, the Sri Lanka Port Authority reported a profit of USD 100 million, and in just the first quarter of 2024, it has already made a profit of USD 50 million.

All four terminals have significantly contributed to these operations, with on-going efforts to enhance their operational capacity. Construction of the Eastern Container Terminal (ECT) and the Western Terminal is in progress, with the Western Terminal expected to begin operations in February 2025.

Additionally, development work is underway at the Eastern Terminal and Northern Port. Meanwhile, development projects are being carried out at Trincomalee, Galle, and Kankasanthurai ports. A passenger ferry service from India operates every Friday using the newly constructed terminal building at the Kankasanthurai Port.