The Colombo Port is stable and it is the best port in the region. We need to attract possible business despite the downward trend in the global shipping industry.
Many shipping lines are comfortable with the services we offer and we need to have a strategy to consolidate our position, Sri Lanka Port Authority (SLPA) Managing Director Capt. Nihal Keppetipola said at the P.B. Karandawela Memorial Lecture on `Global financial crisis and its implications on ports and shipping` held yesterday in Colombo.
Sri Lanka needs to focus on capturing the global market as the Asian shipping industry is performing better compared to the rest of the world.
The country could expect improved performance beyond 2010, said Aitken Spence Maritime and Cargo Chairman / CEO and Director Aitken Spence PLC Dr Parakrama Dissanayake.
The whole maritime industry including the global shipping lines recorded heavy losses last year. The global shipping industry suffered heavily due to the economic downturn and all sectors related to shipping industry under-performed. The total throughput and trade volumes declined drastically. However, there are indications that the industry would recover this year with the slowing down of the economic recession, he said.
The country should be mindful of the threats emerging from Indian ports and needs to be geared to face the challenges. It is important to complete the Port projects - Hambantota and Colombo South Harbour on time to attract the traffic in the future.