A Memorandum of Understanding was signed yesterday between the Sri Lanka Ports Authority (SLPA), the Colombo International Container Terminal (CICT) and the South Asia Gateway Terminal (SAGT) in order to promote the Port of Colombo collectively.
Addressing the MoU signing ceremony at the Ports and Shipping Ministry, its Minister Mahinda Samarasinghe said although the Colombo Port operations are carried out under three terminals such as SLPA, SAGT and CICT, it is necessary to improve the image of the Port of Colombo to attract more shipping lines.
The MoU will encourage joint initiatives between the three terminals to carry out their operations towards the development of the Colombo Port as a transshipment hub for the region, said the Minister.
Speaking at the event, SLPA Chairman Parakrama Dissanayake said under this MoU, all three terminals will be able to share the resources to market and protect the greater interests of the Port of Colombo.
“This is like a shipping alliance. We will compete with each other. But we will also cooperate with each other in order to ensure a better service for clients. So this is moving from competition to co-competition,” said the Chairman.
Despite all the challenges and the growing competition of the region, the Port of Colombo would be able to achieve historic volumes under the guidance of the Minister, he said.
The Chairman added that the Port of Colombo witnessed an overall year-on-year growth of 16.4 percent during January. The transshipment growth was also historic in January which is 20.4 percent. The overall year-on-year growth in February is 19.4 percent and transshipment growth 23.4.
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