The regional team from NYK recently conducted a visit to Hambantota International Port
2 weeks ago
The regional team from NYK recently conducted a visit to Hambantota International Port
Last week, Hiroyuki Noma, the newly appointed Regional Managing Director of NYK based in Singapore, paid a courtesy visit to Hambantota International Port (HIP). He was joined by a distinguished delegation that included RORO Regional Head Keisuke Furukawa, Group Management Committee Member Sagara Pieris, NYK Lanka Ltd. Director Jeremy Anandappa, and Customer Service and Business Development Deputy General Manager Dhammika Sampath.
During their visit, the delegation engaged in discussions with Wilson Qu, CEO of Hambantota International Port Group (HIPG), along with his commercial, marketing, and operations teams. They focused on the current RORO (Roll-On/Roll-Off) operations managed by HIPG, as well as plans for expanding the RORO yard capacity and implementing key initiatives to enhance operational efficiency, capitalizing on the port's potential to attract more vessel calls.
Industry experts highlight that the global RORO vessel market reached an estimated value of $24.79 billion in 2022, with expectations for significant growth—projected to rise from approximately $26.08 billion in 2023 to $39.12 billion by 2031. This positive trajectory presents promising opportunities for newer ports providing RORO services.
Wilson Qu, CEO of HIPG, stated, “We aim to sustain the growth in cargo volume at the port, targeting a 33% increase for 2024 compared to the previous year. This achievement is particularly remarkable given that the overall global market has experienced a compounded annual growth rate of only 2-3% in recent years. Our success can be attributed to various factors, including our strategic location, commitment to excellence in operations, a zero-accident policy, and ample yard space for RORO units awaiting transshipment. Our well-trained operational staff are adept at vessel planning and cargo operations, ensuring the seamless discharge of vehicles at destination ports. With enhanced infrastructure and expertise, we are fully equipped to meet the evolving demands of the global shipping industry.”
Several factors contribute to the growth of the RORO vessels market, including the increasing demand for efficient and economical transportation solutions for vehicles and cargo, alongside the rise in international trade and globalization. Furthermore, advancements in vessel design technology, which improve operational efficiency and reduce environmental impact, are expected to attract more investment and interest in this sector. “In line with current trends, HIP is well-prepared to handle electric vehicles (EVs). Our readiness has garnered global attention, exemplified by a recent visit from BYD Auto, the world’s leading EV manufacturer, to inspect our facilities,” noted Lance Zuo, General Manager of Commercial and Marketing at HIPG.
As the industry progresses, major players are focusing on fleet expansion and upgrading existing vessels to comply with new regulatory requirements and meet customer expectations. Most newly released RORO vessels are now operating on dual fuel (LNG and fossil), which helps minimize emissions. The combination of innovative solutions and growing logistical demands suggests a promising future for RORO vessels, solidifying their essential role in maritime shipping. HIPG envisions becoming one of the top transshipment ports in the world.
Source: DailyFT