The Port of Singapore annual throughput for 2022 has ended just shy of 0.7 per cent from the all-time record volume amassed in the year prior.
The Port of Singapore has reported a container throughput of 37.3 million TEU in 2022, compared to a total of 37.6 million TEU in 2021.
Despite a three to four per cent decline in international container traffic, the Port of Singapore remained resilient while it experienced its second busiest year ever.
The port also handled 577.7 million tonnes of cargo in 2022, while vessel arrival tonnage reached 2.83 billion gross deadweight tonnage.
The port feels that despite difficult global economic conditions over the last year, its standing as a trusted, worldwide transshipment centre was enhanced.
In addition to maintaining their traffic efficiency, the past year has seen the Singapore Institute of Technology (SIT) ink a Memorandum of Understanding (MoU) to explore opportunities in advancing net-zero ambitions in Singapore’s maritime sector.
Such pursuits towards sustainable practices, coupled maintaining high throughput numbers, may be to thank for the Port of Singapore winning the “Best Global Seaport” at the 2022 Asian Freight, Logistics and Supply Chain (AFLAS) Awards. This is the second time that the Port of Singapore has received the award after they won it for the first time in 2021.
According to the Maritime Port Authority (MPA) Singapore, more than 30 businesses launched or extended their operations in Singapore in 2022, with total commercial investment by shipping firms exceeding $4.3 billion.
This is more than 30 per cent greater than the number of businesses that opened new locations or extended their operations in Singapore in 2021.