ECONOMYNEXT – Sri Lanka’s China-backed Hamtantota Port Group said it was getting ready for container transshipment in 2024 after gaining a key position in the roll-on-roll-off vehicle shipping business.
“We continue to grow our RORO and bunkering businesses and saw exponential growth in 2023,” Lance Zuo, General Manager, Commercial and Marketing of HIPG said in a statement.
“In 2024 we will be looking at container transshipment for which the port is now ready.”
HIPG delegation had met with Ports Authority of Thailand and Ranong Port to strengthen a partnership. HIPG hoped to invite teams from the Thai port authority and the Ranong Port to explore and evaluate possible business opportunities.
HIPG had signed an agreement with the Thai Port Authority before the Covid pandemic hit the global economy.
“But now, the time is right to reconnect with Thailand, particularly with the Ranong Port, because international businesses are seeking more and more opportunities with the Sri Lankan economy,” Johnson Liu, Chief Executive of HIPG said.
“As ports, one of the most important aspects is our location, in terms of offering the best connectivity to businesses on key maritime routes, and secondly, providing efficient services and facilities in order to ensure easy cargo movement, transshipment and transportation.
“Connecting with the Ranong Port which operates under PAT is an obvious choice for Hambantota International Port in making strides to the BIMSTEC region.”
Late last year HIPG took part in the Port Development South East Asia Summit (PDSEAS 2023) in Vietnam, the only South Asian port to do so.
“Here in Hambantota, we have the strategic advantage of being in close proximity to the East West sea routes,” Liu was quoted as saying last November.
“Whilst connecting to this advantage we are looking at ports in the South Asian region and direction to HIP.
“This enables us to project our services to these ports and provide logistical support to those who wish to connect with HIP either for transshipment or to actually set up a base to manufacture products in Sri Lanka, for export to various markets within and outside the region.
“While our transshipment business in RORO has expanded tremendously, HIP is developing the next area of expansion by opening up its industrial park adjacent to the port complex.”
China’s CM Ports group which has a stake in the Hambantota Port operating company, also owns a container terminal in Colombo.
China also plans to link Sri Lanka to a Myanmar economic corridor. (Colombo/Feb14/2024)