22 April 2011

Sri Lanka Port Profit Go Up in 2010

21st April 2011, www.lankabusinessonline.com

Sri Lanka Ports Authority (SLPA), which runs the island's ports, increased revenue and operating profit in 2010 on the back of the global economic recovery which generated double-digit growth in cargo flows.

The SLPA's operating profit increased by 126 percent to 4.4 billion rupees in 2010 from the previous year while revenue rose by 21.2 percent to 28.3 billion rupees, according to the central bank.

The SLPA's operating expenditure increased by 11.7 percent to 23.9 billion rupees over the same period.

"The capital expenditure incurred by the SLPA during the year increased to 6.1 billion rupees compared to 3.8 billion rupees in 2009," the bank's annual report said.

"With the gradual recovery in international trade, the performance of port operations increased significantly in 2010."

Container cargo flows at Colombo port rose 19.4 percent to hit a new record of 4.1 million containers last year "supported by steadfast growth in both import-export and transhipment cargo," the bank said.

The number of containers handled in 2010 was also 10.8 percent higher than the total of 3.7 million TEUs (twenty-foot equivalent container units) handled in 2008, the highest-ever performance before the global recession.

Transhipment cargo handling increased by 18 percent in 2010 from the previous year, while the total cargo handled at the port of Colombo increased by 26.7 percent.

Related Info :

Colombo Port Containers Handling Grows by 11.78pct Year-on-Year. SLPA Handles a Record 205,539 TEU in January 2011

Sri Lanka Colombo Port to Double Bunker Storage to Supply Increasing Number of Ship Fuel Suppliers

SLPA to Sell Land Reclaimed from Sea off Colombo Galle Face Green. Investors to be Identified for $350mn Cost of Reclaiming 340 Acres

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