The Hambantota International Port Group (HIPG) states that with the resumption of container vessel traffic through the Red Sea and the Suez Canal, there is potential for the creation of numerous new business opportunities for the Hambantota International Port. According to forecasts by the maritime consultancy firm ‘Linerlytica’, container vessels are expected to return to using the Suez Canal route on a large scale by the first quarter of 2027.
However, the pace of this transition will depend on regional security conditions and the operational decisions made by shipping lines. It is noted that the earlier crisis in the Red Sea served as a catalyst, accelerating the entry of the Hambantota Port into the container transshipment sector.
In response to congestion at the Port of Colombo, the Hambantota Port which began handling additional cargo operations in April 2024 has also taken steps to invest US$ 149 million in new equipment to expand its capacity. Furthermore, it is reported that if at least 65% of the vessels traveling from the direction of the Cape of Good Hope (Africa) resume using the Suez Canal, they will pass in very close proximity to the Hambantota Port. Consequently, the demand for services such as bunkering (fuel supply) for these vessels is expected to rise sharply.
In this regard, the Hambantota International Port Group further states that they aim to transform the Hambantota International Port into a premier maritime hub in the region by integrating container transshipment, handling of domestic cargo, industrial operations, and vessel-related services.