Hambantota International Port (HIP) achieved an impressive growth rate of 22% in 2024, matching its performance from the previous year. With its sights set on even higher numbers in 2025, the port is implementing upgrades to its infrastructure, including the introduction of gantry and yard cranes in the container yard. These enhancements are part of HIP’s strategy to meet the growing demands of the shipping & logistics markets while positioning itself as a key player in the Indian Ocean region.
The port’s bulk and break-bulk cargo sectors saw remarkable progress in 2024. During the first half of the year, volumes rose by 134% compared to the same period in 2023, increasing from 236,012 metric tons to 552,297 metric tons. This surge was largely attributed to the recovery of Sri Lanka’s construction sector, which collapsed in 2022, leading to a spike in cement imports. HIP has also cemented its reputation as a hub for bulk cargo distribution in Sri Lanka, with further growth expected by year-end.
Gas operations at the port also flourished, with LPG volumes increasing by 46% in the first half of 2024, climbing from 127,232 metric tons to 185,214 metric tons. The port recorded a 100% increase in LPG throughput during the second quarter compared to 2023. HIP expanded its services in the energy sector by offering LPG vessel gas-ups and direct bunker supplies, while also preparing for Liquid Bulk Ship-to-Ship operations. These developments emphasise HIP’s focus on promoting the energy sector as a key growth market.
A groundbreaking achievement for HIP in 2024 was the launch of its inaugural container transshipment service in April, operated by the Mediterranean Shipping Company (MSC). HIP transitioned into a fully-fledged container port, handling 43,777 TEUs by mid-year, a staggering increase from just 44 TEUs during the same period in 2023. This milestone marked a 99,300% growth in the container segment and positioned HIP as a potential container transfer center in the region. To support this new operation, the port is developing a dedicated container yard to handle transshipment services.
Now operating across five key sectors, the port has solidified its position as a multipurpose facility. Guided by its five-pillar growth strategy—Integrated Logistics, Marine Services, Port Services, Energy Hub, and Port-Related Industries—HIP has established itself as a key player in the maritime industry.
As the Indian Ocean region becomes increasingly competitive in the shipping and logistics sectors, HIP is gearing up to attract greater volumes. With its strategic location, upgraded infrastructure, and efficient services, the port is well-positioned to become a gateway for Sri Lanka’s southern hinterland while expanding its focus on transshipment and relay services. These efforts are expected to drive significant growth in the coming years, ensuring HIP’s continued success as a regional maritime hub while strengthening Sri Lanka’s position on the global maritime route.
Related: SLPA Achieves Record-Breaking Container Throughput in 2024 Despite Competition