Sept 06, 2010 (LBO) – Container volumes at South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, fell in August, the first monthly fall against a year ago since October 2009. SAGT’s cargo volumes were down 2.3 percent to 159,334 TEUs (twenty-foot equivalent units or containers) in August 2010 compared with the same month last year.
Analysts said it was the terminal’s second lowest monthly throughput in 2010 although volumes in the eight months to August 2010 were up 18.8 percent to 1,342,506 TEUs from the same period last year.
SAGT handled a record 1.7 million containers in 2009 despite recession.
Cargo volumes at Colombo port terminals have been recovering after last year’s downturn caused by global recession.
SAGT is 42.2 percent owned by JKH and has been contributing a big chunk of the conglomerate’s profits in recent years, along with its ship fuel business.