P&O Unit Reports Rise In Container Traffic

Friday, September 08, 2000
Peninsular and Oriental Steam Navigation Co.'s Sri Lanka unit reported a sharp increase in container handling in its first year of operation to August 2000.

"In just 12 months, productivity levels have doubled and South Asia Gateway Terminal Pvt Ltd (SAGT) has handled 261,787 20-foot equivalent units.... a 40,682 teu increase over the year before period," SAGT said.

"... (the group) is well on course to achieving its ambitious target through an effective mix of international and local management expertise." SAGT is 52.5 percent owned by units of Britain's P&O and Sri Lankan conglomerate John Keells Holdings Ltd.

SAGT last September took possession of the Colombo port's Queen Elizabeth Quay in a $240 million deal for a new breakwater. It also agreed to build a new passenger terminal.

The group plans to raise annual handling capacity to 1.1 million containers in 2003. The Colombo port is largely seen as a transshipment hub for South Asia with a capacity to handle some 1.6 million containers a year, which is expected to rise to 3.5 million by 2005. But container traffic at the Colombo port run by the Sri Lanka Ports Authority has been stagnant due to increased competition from other ports in the region.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


MECNW Appoints New CEO

Terry Weston has been confirmed as Chief Executive of Maritime and Engineering College North West (MECNW) following the retirement of his predecessor, Jim Teasdale, at the end of September.

Danelec Marine Expands in Brazil

Press release - Danelec Marine has announced that it is expanding its presence in Brazil by naming Telnav Telecomuniçacões Navais a Certified Service Center. With

Navy Kicks Off Tours with Industry Program

The Navy kicked off a new program Oct. 5, designed to give high performing officers and Sailors experience at large corporations for approximately one year.

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1107 sec (9 req/sec)