In comparison to the same period in 2014, the Port of Singapore, which is currently the world’s second largest port, saw a 6.5% decrease in container volumes in the first nine months of 2015, according to World Maritime News.
The Port of Singapore handled more than 2.4 million TEU in September 2015, which translates as a heavy 13.5% drop in comparison to September 2014.
The port handled 23.5 million TEU from January 1 to September 30, 2015, compared to 25.13 million TEU handled in the same period in 2014.
In 2014, the Port of Singapore handled more than 33 million TEU, in comparison to 2013, where it handled 32-and-a-half million, yet 2015 is proving inferior to 2014 for Singapore at present.
The Maritime and Port Authority of Singapore (MPA) and IBM recently announced their partnership to develop and test new analytics-based technologies for tapping into Big Data.
The Port of Singapore also recently signed a memorandum of understanding for the first phase of construction for its Tuas Terminal, which is expected to cost around US$1.8 billion, and will presumably lead to figures improving.
Singapore was previously the world’s busiest port after being dethroned by Shanghai in 2010. It is yet to recover it’s standing as the world’s number one.