An international shipping expert and academic has found it “debatable” as to whether it’s the right time to construct a new port–, referring to the country’s Hambantota port, due to market instability.
“Whether it’s the right time is very debatable as the lead time is five or eight years but in the meantime we have had the worst shipping market caused by the world recession and consequently markets have collapsed,” Bruce Ogilvy, International Vice President of the Institute of Chartered Shipbrokers (UK) said in an interview last week in Colombo with the Business Times.
