Sri Lanka: the Crossroads of the East Sea

About 900 words, the reading time is expected to be about 5 mins~

In the ancient times, Sri Lanka was called Ceylon, which is a tropical island floating in the Indian Ocean. Because the shape of the national territory of Sri Lanka resembles a tear, it is given the nickname by the British colonists?- "the tear of the Indian subcontinent".

Sri Lanka has been the geopolitical chokepoint and the important transit hub in South Asia since ancient times. Located at the southern tip of the Indian subcontinent, it is "the most beautiful island in the world" in Marco Polo's eyes, with convenient geographical conditions linking East and West. From the perspective of international trade, located in the busiest route between Asia and Europe, Sri Lanka is an important hub port in South Asia, and thus has the innate advantages in developing port and shipping industry. Sri Lanka boasts 10 traditional ports, including Colombo Port, Matara Port, Batticaloa Port, Galle Port, Jaffna Port, Kalutara Port, Kankesanturai Port, Kayts Port, Negombo Port and Trincomale Port. Besides, it also boasts Hambantota Port, which was built with Chinese aid in 2007.

Colombo Port?is located in the south bank of Kailani River Estuary in the southwest coast of Sri Lanka, bordering the north side of the Indian Ocean. It is not only the largest port in Sri Lanka, but also one of the largest artificial ports in the world. It is also the cargo transit hub and the only?deep-water container terminal?in the whole South Asia region. In addition, the port is a shipping hub for European, Asian and African countries and the Indian Ocean region, and handles 90% of Sri Lanka's foreign trade. According to foreign media data, the Colombo Port area is 4.8 square kilometers, with 51 large ship berths and 27 docks. In 2021, the container throughput of Colombo Port reached 7.25 million TEUs, an increase of 5.8% over 2020, including 5.85 million transshipment cargo (4.2% year-on-year growth) and 1.19 million domestic cargo (10% year-on-year growth), rising one place to 22nd in the world's best port rankings.?

The government aims to increase the port's current capacity of 8 million TEU by another 6 million TEU by 2025 through the development of east and west container terminals and the installation of 26 quay Bridges. The government will also develop the North Port, which is expected to have a capacity of 24 million TEUs by 2040.

Hambantota Port?is located in the capital of Hambantota District, southern Province of Sri Lanka. It is about 10 nautical miles away from the world's busiest international ocean route. As an important fulcrum of the Belt and Road Initiative, Hambantota Port is known as the "Crossroads of the East" and the "heart of the Indian Ocean". More than 50 per cent of the world's container freight, a third of the world's bulk cargo and two-thirds of the world's oil shipments pass through the region. In 2021, Sinopec joined forces with Hambantota Port?to make full use of the port's advantages as a free trade port and further enhance the port's port influence by using refueling business.

Logistics?advantage of Sri Lanka

Located in many of the world's busiest shipping lanes in the Indian Ocean and very close to India, Sri Lanka is the gateway to the Indian subcontinent and has the advantages needed to develop into a major shipping hub and logistics hub in South Asia. Despite its small economy, Sri Lanka is an important transshipment hub in the region, where many shipping companies assemble and then unbox goods for shipment to other destinations.

Sri Lanka's location is not the only attractive feature for foreign logistics companies. Unlike other developing countries, the country has seen little port congestion or mass labor unrest. In addition, the costs associated with international trade in Sri Lanka are lower compared to other countries in the region.

Sri Lanka: an important node of the 21st Century Maritime Silk Road

Sri Lanka was an important node on the ancient Maritime Silk Road, and Zheng He stopped here five of his seven voyages. Sri Lanka has the geographical advantage of connecting the Asian and African continents and radiating the South Asian subcontinent. In the Belt and Road Initiative, Sri Lanka is an important node both on the Maritime Silk Road and on the Indian Ocean. From the 5th century BC to the 13th century AD, the coastal towns around Colombo developed prolifically as maritime trading centers and became the most important commercial centers in the Indian Ocean. From ancient times up to the 16th century, these Sri Lankan port towns appeared in many historically important map-making documents and became important ports for seafarers and Silk Road trade exchanges.

At present, the Colombo Port City, a large-scale investment project jointly carried out by the government of China Harbor and Sri Lanka, is being built here, which is known as the cooperation model of the Belt and Road cooperation between the two countries. Next, Colombo Port will continue to operate as a container and logistics hub, Galle Port will be positioned as a tourist destination and equipped with a cruise terminal, and Trincomalee Port will be an industrial port. In addition, the government will vigorously promote the digital and paperless operation of ports.

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