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John Keells Holdings Ltd News

08 Sep 2000

P&O Unit Reports Rise In Container Traffic

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. "... 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.

24 Jan 2001

Colombo Port Expects Volume Boost

Sri Lanka's main port of Colombo hopes to see volumes recover within two years, boosted by development projects, a tariff restructuring and a marketing campaign, the country's ports minister said. "It will be two years before we see a turnaround. We are looking at a faster increase than the natural growth we are seeing now," Ronnie de Mel told Reuters in an interview. "We want transshipment, which is bringing in less than 50 percent of our volumes, to grow through improved efficiency in handling," he said. Transshipment and container handling volumes through the port have fallen during the last two years because it has been unable to handle large container vessels and a bloated workforce and a lack of technology have led to inefficiency.