Port services expanded significantly in first quarter

Colombo, Oct 27, (Lankapuvath) - The Central Bank of Sri Lanka has recently commented a 15 percent increase of Cargo Handling, storage and warehousing sub-sector performance during the first quarter of 2005.

This growth in performance, which is largely driven by Port Services Performance, has also shown a 16.9 per cent increase compared to 12.8 per cent respectively in 2004.

A senior official of the Port told Lankapuvath that during the period under review the Port of Colombo including the South Asia Gateway Terminal (SAGT), has handled a volume of 609,756 Twenty Foot Equivalent Units (TEUS).

The transhipment growth which account for over two-third of the total throughput handled, expanded by 17.4 per cent, while domestic throughput volume has grown by 17.9 per cent, according to Central Bank figures in second quarter 2005.

Meanwhile, Air Cargo volumes have also expanded moderately by 2.4 per cent followed by the 4.2 per cent of transport sub sector expansion.

Growth in road haulage activities by 4.1 per cent was mainly the result of satisfactory performance in external trade activities. The aviation services reporting a 12.6 per cent ratio of growth also showed positive results. STCH