Busy Terminal

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Oct 26, 2009 (LBO) – Sri Lanka’s South Asia Gateway Terminals (SAGT), a private operator in the port of Colombo says September volumes have increased 3.8 percent from a year earlier to 161,450 containers.

This is the second highest monthly throughput ever recorded by SAGT, behind August 2009 where it hit a record of 163,024 twenty-foot equivalent units (TEUs).

SAGT volumes have been steadily increasing for the past five months, reversing an earlier falling trend, as global trade slumped.

In the nine months to September total volumes were down 1.4 percent from the same period last year.

Analysts said SAGT had fared better than a state-run terminal in the Colombo port.

Transshipment business, which has thin margins, had accounted for 79 percent of the terminal’s business in the nine months. SAGT is 42.2 percent owned by conglomerate John Keells Holdings.