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 Shipping industry to flourish

Rohan Masakorala

Harbour expansion, infrastructure to bring bulk vessels:

The shipping industry in Asia will flourish in the next few years and Sri Lanka will definitely benefit. The expansion of infrastructure facilities such as harbour

facilities in Sri Lanka will bring in bulk vessels to the country. This will result in the generation of employment opportunities, Asian Shipper’s Council Secretary General Rohan Masakorala told the Daily News Business.

The unstable market, trade and charges imposed by carriers have been challenged with shippers now. For shipping lines the imbalance of trade has become a challenge.

“To address these issues, the industry should look into fast and fine technology that will provide end-to-end solutions. The shipping industry in Asia is facing the lack of a proper regulatory framework that affects manufactures and exporters,” he said.

“The shipping industry contributes to 10 percent of the GDP. Sri Lanka needs to expand capacity in service levels and to introduce new technology for further contribution,” he said.

“The shipping industry in Sri Lanka has been growing even during the war period whereas the shipping industry in Singapore too was 10 percent of its GDP. A proper framework should be in place for the development of the shipping industry further,”Masakorala said.

“Sri Lanka is fortunate to have the Asian Shipper’s Council headquarters in Sri Lanka. The headquarters of Asian Shipper’s Council Training Academy will be set up in Sri Lanka soon. It will cater to the Asian region in developing capacities of personnel in the shipping industry,” Masakorala said.

The labour conditions in the industry have to be developed more efficiently. Apart from that the legal, regulatory and policy matters too should be addressed.

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