As Hambantota International Port (HIP) prepares to enhance its container operations with advanced crane technology in February 2025, Wilson Qu, CEO of Hambantota International Port Group (HIPG), emphasized the port’s commitment to tapping into new markets to expand its portfolio. This initiative is aimed at increasing container volumes and strengthening Sri Lanka’s position in global maritime trade.
To achieve this, the port is implementing a comprehensive strategy that focuses on both seaside and landside development, positioning its container division for future growth. The landside strategy has been actively progressing, with recent agreements, including the establishment of a sponge-mattress factory targeting export markets in the USA, Europe, and Canada. This marks the first business agreement since HIP launched its container operations, with more agreements expected in 2025.
The industrial zone is expected to create significant employment opportunities and foster partnerships between Sri Lankan entrepreneurs and international companies to meet rising demand. This initiative will also drive more gateway cargo to the port, enhancing its connectivity and solidifying HIP’s role as a key hub in global trade.
The port’s strategic location along major maritime routes provides a unique advantage, allowing it to attract customers who may not have previously considered Sri Lanka as a viable option. CEO Qu stressed that the focus is on offering competitive commercial rates, exceptional service, and investments in infrastructure, recognizing that the port cannot rely solely on its location.
HIPG is also targeting the relay cargo market as part of its seaside strategy. With the goal of handling 10 million TEUs between 2025 and 2026, the port aims to capture a significant share of the untapped market, as over 70% of containerized cargo from BIMSTEC countries currently bypass Sri Lanka. By strategically marketing to this segment, HIP seeks to position itself as a central hub for regional transshipment and relay cargo operations, optimizing shipping routes and reducing transit times.
By leveraging Sri Lanka’s strategic location and offering tailored solutions, HIP is poised to redefine regional shipping dynamics and establish itself as a major player in global logistics.
