By Chaminda Silva

Revenue from increased transshipment volumes, driven by major shipping lines rerouting their vessels due to Houthi attacks in the Red Sea, has significantly contributed to the record income achieved by Jaya Container Terminals (JCT), a wholly owned subsidiary of the Sri Lanka Ports Authority, over the past few years.

In response to the Red Sea crisis that began in November 2023, JCT has experienced a substantial rise in oil sales. By the end of February 2024, fuel volumes sold had surged by 36%. Revenue and fuel sales peaked in January 2024, reaching Rs. 72.1 million and 53,805 metric tons, respectively. Although there was a slight dip in February, with fuel sales remaining at 53,805 metric tons and revenue at Rs. 66.6 million, JCT’s overall performance during the crisis has remained exceptionally strong.

At a press conference held at JCT’s headquarters in Colombo, Chairman Attorney-at-law Lakmal Ratnayake said: “It is fantastic to see JCT reach such phenomenal heights. This success wouldn’t have been possible without the dedication of our entire team and the unwavering support of the Ministry of Ports, Shipping, and Aviation and the Sri Lanka Ports Authority (SLPA). We are incredibly grateful for their contributions. Our success also stems from the trust placed in us by our partners, stakeholders, and loyal clientele. Their continued support has been instrumental in propelling JCT Ltd. to the forefront of the industry. We look forward to building upon this foundation and achieving even greater heights together in the coming years.”

Managing Director Dr. Sisira Kodagoda said that JCT’s growth has been further driven by the company’s ability to adapt to market demands. This includes providing essential Marine Gas Oil during Sri Lanka’s fuel crisis and proactively transitioning to Low Sulphur Fuel to comply with International Maritime Organization (IMO) regulations, allowing JCT to serve a broader range of vessels.

Chief Financial Officer Sugandhika Lansakkara said that in 2022, JCT recorded its highest profit ever, surpassing Rs. 245 million. In 2023, JCT achieved its highest revenue to date, reaching Rs. 612 million, with a profit of Rs. 243 million.

As of August 2024, revenue has reached Rs. 489 million with operating profits of Rs. 204 million. JCT’s profit up to August 2024 stands at approximately Rs. 181 million, reflecting a 10 percent increase compared to August 2023. These figures underscore the company’s resilience and ability to capitalize on opportunities even in challenging market conditions.Chief Engineer Nalin Vidhanapathirana also spoke at the press conference.

The urgent need for sustainable nitrogen management in Sri Lanka was underscored at a recent technical session on Super Urea, which revealed the significant environmental and economic impacts of nitrogen use in agriculture, said a press release.

It said that during a technical session on Super Urea, hosted by A. Baur & Co. (Pvt) Ltd, also known as Baurs, it was highlighted the need for strong policy interventions to address nitrogen pollution.

Nitrogen, the most abundant element in the atmosphere, is crucial for plant growth but can cause significant environmental problems when mismanaged. In Sri Lanka, rising nitrogen emissions from agriculture are contributing to soil degradation, water pollution, and greenhouse gas emissions. With less than 40 percent of nitrogen fertilizers effectively utilized by crops, the excess nitrogen harms the environment.

Since 2016, Baurs has pioneered the use of Super Urea, a nitrogen dual stabilizer that reduces ammonia volatilization and nitrification, improving fertilizer efficiency and enhancing crop yields while minimizing environmental impact. Baurs partners with Innovar Ag, holding an exclusive distributorship in Sri Lanka.

Prof. S.P. Nissanka from the University of Peradeniya highlighted the alarming rise in reactive nitrogen compounds, which contribute to eutrophication, soil acidification, and loss of soil biodiversity. With Sri Lanka ranking low on the Sustainable Nitrogen Management Index, there is an urgent need for innovative nitrogen management approaches, including controlled-release fertilizers, urease inhibitors, and nitrification inhibitors.

The South Asian Nitrogen Hub Research Programme, supported by UK Research and Innovation is leading efforts to improve nitrogen management in Sri Lanka through testing genetic and agronomic solutions and integrating traditional knowledge with modern science. Prof. Nissanka also stressed the need for strong policy interventions to address nitrogen pollution.

The event was attended by notable figures including Prof. Ray Asebedo, Vice President of Innovar Ag, LLC; Baurs CEO/Managing Director Rolf Blaser; Deputy MD/Director of Agriculture Janaka Gunasekera; and Dr. W.M.W. Weerakoon, Senior Agriculture Specialist at FAO Sri Lanka and former Director General of Agriculture.

Steel manufacturer Melwa recently hosted two key training events. A workshop for nearly 100 technical officers was held at Roo Inn Chaya Hotel in Polonnaruwa. Additionally, Melwa conducted a specialized training programme for around 200 masons and welders at Golden Flower Hotel in Hingurakgoda.

This programme, which Melwa fully sponsored, aimed to help participants achieve the National Vocational Qualification (NVQ) Level Three certification. The training covered essential construction skills and included financial and tool support for obtaining the NVQ certificate. This initiative is part of Melwa’s broader effort to enhance professional training for construction workers in Sri Lanka.