CICT tops 2 million performance in Colombo

Colombo International Container Terminals Limited (CICT), part of China Merchants Port Holdings Company Limited, achieved a breakthrough of 2 million TEUs in 2016.

China Merchants Port Holdings Managing Director Bai Jingtao said the Group’s project in Sri Lanka, said the actual throughput capacity CICT can reach is 2.6 million TEUs.

Meanwhile, he said the Group also actively participate in the tender of east Colombo port project, in order to strive for bigger development capacity.

The Board of Directors of China Merchants Port Holdings Company Limited announced the annual results of the Company and its subsidiaries for the period ended 31 December 2016.

Li Xiaopeng, Chairman of the Board said the Company has achieved four major transformations in 2016, namely “accelerated business development, increased capital contribution, increased market impact, and expanded global impact”, by achieved breakthroughs among six major aspects including home base port development, ports consolidation, overseas expansion, capital management in existing portfolio by integration of industry with elements of finance, operational transformation and business innovation.

In 2016, the Group’s ports handled a total container throughput of 95.77 million TEUs, up by 14.5% year-on-year, among which the Group’s ports in Mainland China contributed container throughput of 71.93 million TEUs, indicating an increase of 17.0% year-on-year, which was mainly driven by the additional contribution from a new equity investment in Dalian Port (PDA) Company Limited (“Dalian Port”) in early 2016, thereby enabling the Group to sustain its leading position among Chinese port operators.

The Group’s operations in Hong Kong and Taiwan contributed an aggregate container throughput of 6.88 million TEUs, representing a growth of 12.0% over last year. Benefited from the rapid growth of the port operation of Colombo International Container Terminals Limited (“CICT”) in Sri Lanka and the additional contribution from Kumport Liman Hizmetleri ve Lojistik Sanayi ve Ticaret Anonim Şirketi in Turkey, of which the acquisition was completed by the end of 2015, total container throughput handled by the Group’s overseas ports grew by 5.7% year-on-year to 16.96 million TEUs.

Total bulk cargo volume handled by the Group’s ports increased by 30.2% year-on-year to 460 million tonnes, within which ports in Mainland China handled bulk cargo volume of 453 million tonnes, representing an increase of 30.2% year-on-year. Port de Djibouti S.A. (“PDSA”) in Djibouti contributed a bulk cargo volume of 6.52 million tonnes, reflecting an increase of 25.8% as compared to last year. (Colombo Gazette)