Sri Lanka ports' operational profit declines during 1st four months    

Sri Lanka has posted a decline in profits in port operations for the first time in the recent history during the first four months this year owing to the COVID-19 impact on shipping industry worldwide, official sources said.    

The Sri Lanka Ports Authority (SLPA), which operates the ports of Colombo, Galle, Trincomalee, Kankasanthurai, Oluvil and Point Pedro, recorded a profit of Rs. 4,675 million in the first four months of 2020, a 55 percent decline compared to the profit of Rs. 10,505 million recorded in the same period of 2019, Treasury data showed.  

The foreign and local debt of the SLPA reached Rs. 60,594 million and Rs. 10,645 million, respectively at the end of April 2020. 

Capacity at terminals at the Colombo Port is nearing maximum capacity with around 16,000 freight containers at Colombo Port. The maximum capacity at the Colombo Port is 30,000 freight containers. The SLPA now faces an issue with regard to space as sea freight is continuing as usual and requested importers to take away their freight containers from the Colombo Port as soon as possible to avoid any inconvenience, a senior official of the authority said. (BS)