SL could become a strategic alternative hub in the East By Raj Moorthy View(s): View(s):While the ongoing conflicts in the gulf and Middle-East, particularly the US/Israel-Iran war, are significantly affecting global shipping routes and bunker costs, shipping companies are forced to take increases coinciding with the situation. On a positive note, it is beneficial for carriers, as rates were plunging due to oversupply of demand until recent times. A positive regional development is the potential for Sri Lanka to become a strategic alternative hub, leveraging infrastructure improvements, says Nilud Fernando, a professional in international shipping and logistics. He told the Sunday Times Business: “The current shipping crisis is significantly accelerating demand for ad-hoc vessel calls as carriers reroute cargo around the Cape of Good Hope. Recently, several major carriers have reached out to the Port of Colombo to secure terminal slots.

Source: Sunday Times March 08, 2026 10:09 UTC