Sri Lanka’s Hambantota port in deal with NYK to tranship vehicles

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ECONOMYNEXT – Hambantota International Port Group (HIPG) said it recently entered into an agreement with Japanese shipping conglomerate Nippon Yusen Kaisha (NYK), for vehicle transhipment through its port on the south coast.

It said it was able to attract Japan’s largest shipping company and the world’s number one RoRo (roll on-roll off) fleet operator with the latest in equipment, increase in productivity and zero accident policy, combined with benefits and concessions offered by the port.

The Terminal Service Agreement (TSA) HIPG entered into with NYK is the first RoRo specific TSA entered into by the shipping line with a Sri Lankan port, a statement said.

“Under the TSA, NYK will bring RORO, machinery and equipment cargo to the Hambantota International Port (HIP), for transshipment to the various parts of the world,” it said.

“It is significant that NYK entered into the TSA with HIPG, after a hiatus of four years during which they did not bring any transshipment cargo to Sri Lanka.”

The TSA will be instrumental in increasing volumes of transshipment cargo to the Hambantota Port, from Japan and Thailand with the possibility of India joining the equation in future, the statement said.

“This is the second TSA we signed with a Japanese shipping line and it’s a testament to the efficiency levels and commercial benefits HIP can offer,” said Tissa Wickramasinghe, chief operating officer of HIPG.

He said that the TSA with NYK is a considerable boost to the port and proof of its international status.

“With our global reach, combined with the expertise and location advantage of the Hambantota International port, we can anticipate optimising business opportunities in the future,” said Sagara Peiris, Director of NYK Line.
(COLOMBO, 17 October 2019)

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