Sri Lanka’s Colombo Port Container Volumes Down 9.3-pct in June 2022
08.23.2022 By Ella Keskin - NEWS

August 23, 2022 [ Economy Next ] – Sri Lanka’s container transshipment volumes fell 4.5 percent from a year ago to 483,070 twenty foot equivalent units in June 2022 as domestic imports also fell, data shows, as the economy was contracted to stabilize a soft-peg which collapsed due to earlier money printing.


Domestic container volumes fell 25 percent from a year ago to 80,386 TEUs in June.

Total containers handled in June fell 9.3 percent to 577,082.

In the six months to June total container volumes in Sri Lanka were down 0.6 percent to 3.554 million TEUs.

Colombo’s container transshipment is linked to Indian external trade and global trade though domestic conditions like strikes or unrest may affect port activity in some months.

In June volumes recovered somewhat from a trough in May.

Sri Lanka’s domestic container volumes started to fall steadily after March after Central Bank Governor Nandalal Weerasinghe allowed interest rates to go up to limit money printing and credit.

Sri Lanka’s soft-peg with the US dollar collapsed from 200 to 360 to the US dollar in a failed float with a surrender requirement (forced dollar sales to the central bank) and low rates.

Global economic activity is also moderating as the Federal Reserve and other central bank try to allow rates to go up after printing money into a healthy banking system during the Coronavirus crisis to boost growth driving commodity prices and overall inflation to high levels.


Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

TurkStream Gas Pipeline Says Netherlands Withdraws Licence, To Continue Gas Exports
09.30.2022 - NEWS
September 30, 2022 [Reuters] – The Russian-owned operator of the TurkStream gas pipeline said o... Read More
Canada's Enbridge Buys U.S. Green Power Firm Tri Global
09.30.2022 - NEWS
September 30, 2022 [Reuters] – Canadian energy infrastructure firm Enbridge Inc (ENB.TO) on T... Read More
Foreign Tanker Enters Puerto Rican Port After U.S. Waives Shipping Rule
09.30.2022 - NEWS
September 30, 2022 [Reuters] –  A cargo of diesel fuel initially barred from hurricane hit Pue... Read More
LNG Markets May Tighten Further In 2023, IEA's Birol Says
09.30.2022 - NEWS
September 30, 2022 [Reuters] – LNG markets in 2023 may be tighter than this year as demand may ... Read More