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Saturday Dec 14, 2024
Thursday, 30 April 2020 00:00 - - {{hitsCtrl.values.hits}}
By Charumini de Silva
With regional ports closed, the Sri Lanka Ports Authority (SLPA), as part of new business development, is planning to encourage berthing of ships.
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SLPA Chairman
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“We are considering on venturing into anchorage facilities for the vessels that are in the sea due to the closure of ports in the region,” SLPA Chairman Maj. Gen. Daya Ratnayake told the Daily FT.
He said it was important to think smart and look how challenges can also be converted into new opportunities.
“Currently there are many vessels in the surrounding sea, which is actually very costly for the shipping lines. These cargo vessels thereby can be facilitated at Port of Colombo for anchorage. Allowing such business at this point is critical to earn foreign exchange given the difficulties the entire world is faced with,” he said.
Ratnayake said the SLPA is constantly looking at short, medium and long-term revival strategies to ensure that the institution remains a key contributor to the economy.
“Coronavirus has caused demand to fall lower and remain at lower levels for much longer than in a usual year. Therefore, looking at new businesses opportunities is critical at this point,” he added.
The Chairman said SLPA predicts Rs. 2.5 billion or 50% drop in its overall revenue this month due to the COVID-19 pandemic.
He noted that once the cargo that is currently being cleared at port premises will also allow more space and facilities for new business opportunities.
“A recovery also could be in the cards for the container sector, with the weekly number of large containership journeys originating in China now going back up. Now many sectors are showing recent recoveries in demand, which should lead to improvements in the markets,” he said.
However, he said the situation developing daily is so critical to keep a careful and regular eye on the evolving demand data.
“We need to make sure that local ports and terminals are kept open for business. By saying that we recognise that naturally there is a global need for containing the spread and we need to deal with it in a sensible manner in order to make sure that food and goods are kept flowing to where it is needed because that is basically where shipping lands a lifeline to the global public,” Ratnayake stressed.
