NYK’s new Regional Managing Director Hiroyuki Noma, stationed in Singapore, made a courtesy visit to Hambantota International Port (HIP) last week. The delegation also consisted of Keisuke Furukawa, Regional RORO head; Sagara Pieris, Group Management Committee Member; Jeremy Anandappa, Director NYK Lanka (Pvt.) Ltd.; and Dhammika Sampath, Deputy General Manager of Customer Service & Business Development.
The delegation held discussions with Wilson Qu, CEO of Hambantota International Port Group (HIPG) and his Commercial and Marketing, as well as Operations teams on the RO-RO operations currently being handled by HIPG. The Hambantota International Port is currently planning on further extending its RORO yard capacity, as well as implementing some key measures to enhance efficiency given the port’s potential for attracting more vessel calls!
As industry specialists assert that the Global RO-RO (Roll-On/Roll-Off) Vessels Market achieved a value of approximately USD 24.79 billion in 2022 and this sector is anticipated to experience robust growth, expanding from an estimated USD 26.08 billion in 2023 to a projected USD 39.12 billion by the year 2031 the growth trajectory for newer ports offering the service is getting better.
“We plan to sustain the port’s cargo volume growth by maintaining the same levels of 2024 which is a 33% increase compared to the previous year. This is a tremendous achievement for the port, especially considering the compounded annual growth rate of the entire global market which is around 2-3% during the past few years. We attribute our success to several factors such as our strategic location, excellence and experienced handling, with zero tolerance for accidents as well as ample yard space for RORO units awaiting transshipment. Our trained and experienced operational staff are experts in vessel planning and cargo operations, ensuring the smooth discharge of vehicles at destination ports. With expanded infrastructure and expertise, we are wholly geared to meet evolving demands of the global shipping industry,” says Wilson Qu, CEO of HIPG.
Several factors contribute to the upward trend in the RO-RO vessels market. Increasing demand for efficient, economical transportation solutions for vehicles and cargo, coupled with the rise in international trade and globalisation, is expected to drive market growth. Additionally, advancements in vessel design technology, which enhance operational efficiency and reduce environmental impact, are likely to attract further investment and interest in this sector. “For example, keeping with current trends, HIP is well geared and ready to handle electric vehicles (EV’s). Our readiness has already attracted global attention and recently the world’s No. 1 EV manufacturer BYD Auto, paid a visit to the port to inspect our facilities,” says Lance Zuo, General Manager Commercial and Marketing of HIPG.
As the industry evolves, key players are focusing on expanding their fleets and upgrading existing vessels to meet new regulatory requirements and customer expectations. In line with that most of the newly released RORO vessels operate on dual fuel (LNG and fossil) to minimise emissions. The combination of innovation and growing logistical demands suggests a promising future for RO-RO vessels, solidifying their critical role in the maritime shipping landscape and HIP’s vision is to be one of the top tier transshipment ports in the world.