Port of Colombo poised for record-breaking year as it surpasses 7mn TEUs

By Nishel Fernando 

The Port of Colombo achieved a significant milestone, surpassing 7 million twenty-foot equivalent units (TEUs) in container throughput by the end of November 2024, marking its highest performance since 2021. This achievement positions the port to close the year with its highest-ever container throughput.

As of November, the cumulative container throughput reached 7.1 million TEUs, reflecting a 12.6 percent year-on-year (YoY) increase. The port first crossed the 7 million TEU mark in 2018 and achieved the same in 2021. Notably, this year’s throughput exceeded the 6.91 million TEUs handled during the entirety of 2023, within just 11 months.

The Colombo International Container Terminal (CICT), the port’s only fully operational deep-water terminal, handled 3.07 million TEUs by October, showing a 4.8 percent YoY growth. Meanwhile, the Jaya Container Terminal (JCT) and the partially operational East Container Terminal (ECT) collectively recorded a remarkable 23.4 percent YoY growth, handling 2.19 million TEUs. The South Asia Gateway Terminal (SAGT) also demonstrated robust performance, handling 1.84 million TEUs, a 15.1 percent YoY increase.

Transshipment volumes contributed 81 percent of the port’s total container throughput, and played a key role in this growth partially driven by the Red Sea crisis. In November alone, transshipment volumes surged 32.5 percent YoY to 523,362 TEUs. Over the 11-month period, transshipment volumes increased by 10.2 percent YoY, reaching 5.77 million TEUs.

Import container (laden) volumes rose significantly by 23 percent YoY to 483,528 TEUs during the 11-month period, while export container (laden) volumes grew by 5.7 percent YoY to 275,364 TEUs. Additionally, restowing volumes surged by 60.1 percent YoY to 279,910 TEUs.

Despite the impressive container throughput, the number of container ships calling at the port declined by 10.2 percent YoY to 3,198. Similarly, total ship arrivals, including those for repairs and bunkering, dropped by 7.1 percent YoY to 3,601. However, the arrival of conventional and other cargo ships showed an upward trend.