Singapore in 4-Year Volume Slump
Container volumes at the Port of Singapore have continued declining after throughput recently dropped by 8.7%, it is the fourth consecutive year figures have dropped, according to gCaptain.
The Maritime and Port Authority of Singapore said that this result has taken place as a result of the slump in Asia-Europe volumes.
A report previously released by BMI Research said that the Port of Singapore will fail to regain the top spot above the Port of Shanghai which have held the top space since 2010.
Aside from declining volumes, the Maritime Port Authority of Singapore has recently been involved in a number of new initiatives, including its decision to operate Egyptian ports.
The port has also opted into a port training scheme with PSA International, which has just released its 2015 financial results, with the scheme involving the creation of a port management program for young people interested in pursuing a port or maritime career.