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| Sunday, 4 January 2004 |
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Business |  |
| News Business Features Editorial
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Bomb-free Colombo a stronger contender Long regarded as a perfect transshipment location on the Asia-Europe route for serving the Indian subcontinent, Sri Lanka's port of Colombo has been dogged by political instability. But this year box-handling has been soaring at the port as the bombs and war-risk surcharges stay away. Colombo looks forward to ending the year with a minimum 10-12% improvement in container throughput over the stagnant average levels of 1.72m-1.75m teu over the past three years, cracking the 2m mark. In July, the port handled a record monthly volume of 185,697 teu. August saw transshipment up 24.4% and total throughput higher by 17.5% over the corresponding month of last year, with a total of 182,068 boxes passing through the quays of the port's two terminals. This improvement is reward for enhancing productivity and efficiency at the port, where Sri Lanka Ports Authority runs Jaya Container Terminal, which is now consistently achieving more than 100 crane moves an hour, a feat the compares well with the sluggish 20-22 moves an hour during the 1990s. The improvement has been spurred on by the efficient PEtO Ports-run South Asia Gateway Terminals across the water. Sustained peace and fewer changes in the shipping ministry could see Colombo vying with other regional hubs such as Dubai, Salalah and Singapore, as well as Jawaharlal Nehru port for Indian transshipment cargo. |
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| Editorial | Security Produced by Lake House |
