Hambantota Port goes from strength to strength despite world turmoil

Over 300 oil and gas cargo vessels have visited the Hambantota international Port (HIP) in 2023, recording a 132 percent increase in vessel calls compared to 2022, Hambantota International Port Group (HIPG) said in a press release on Wednesday (31).

A key reason for this is the port’s bunkering partner Sinopec actively operating in the market, bringing significant value addition to the HIP’s commercial operations, the press release said.

The overall oil and gas throughput handled by the port in 2023 was 918,000 metric tons, with 700,000 metric tons of bunker and 218,000 metric tons of LPG cargoes, the press release said.

Tissa Wickremasinghe, COO of HIPG said they expect these figures to more than double in 2024.

35 vessels called at HIP in July 2023, making it the month for the highest number of calls during the year, the press release said.

The port recorded a growth of 186 percent in LPG vessels and 125 percent growth in bunker vessels in 2023, HIPG said.

HIPG said 114 bunker and 15 LPG vessels called in 2022.

The port also saw a 218 percent overall growth, HIPG said.

Wickremasinghe said the significant progress in 2023 was made amidst an economic downturn and a dollar crisis in Sri Lanka.

“The Palestine and Ukraine wars have also impacted the oil market, contributing to a surge in global prices. We have achieved our target volumes, in spite of these crises. With major projects and developments in infrastructure occurring simultaneously, the port manages vessel operations, handles manpower efficiently, and we have achieved all of this within a completely accident-free environment,” he said.