June 08, 2010 (LBO) – Cargo volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings surged 22.3 percent in May to 175,514 twenty-foot equivalent container units (TEUs) from a year ago, latest data shows. SAGT is part of the transport business of the JKH conglomerate which has been making an increasing contribution to group profits in recent years. Container flows at the terminal as well as the port’s other terminals which are owned by government have been rising on the back of a recovery in trade with the end of global recession.
Container volumes at South Asia Gateway Terminals, a big contributor to JKH profits, are up 30.4 percent to 851,435 TEUs up to May this year from a year ago.
The containers handled in May were the second highest-ever monthly volumes at the private terminal, analysts said.
SAGT handled a record 181,991 containers in March 2010 as transshipment traffic, which accounts for two-thirds of the terminal’s business, rose sharply with the recovery in regional trade.