Singapore Sees its Volume Jump

Twitter
Facebook
LinkedIn
Email
singapore_140119_1280_800_84_s_c1

The Port of Singapore’s container traffic grew by 8.7% in 2018, according to a statement from the Maritime and Port Authority of Singapore (MPA).

In 2018 the port saw its container throughput hit 36.6 million TEUs in the calendar year, an increase from 33.7 million TEUs it carried in 2017.

Furthermore, the port’s traffic has increased by six million in two years. In the same time period, its cargo throughput has increased by more than 37 million tonnes.

All this has meant the port has continued to be an invaluable part of the Singaporean economy – the maritime sector accounted for 7% of the country’s gross domestic product (GDP) in 2018.

The results follow a series of initiatives that look to improve Singapore’s position as a hub for world trade and logistics.

How did the trade war affect the dry bulk sector? Find out with a Port Technology technical paper

In November 2018 COSCO and PSA signed an agreement to expand the COSCO-PSA Terminal to handle five million TEU every year.

Furthermore, it has also deepened its relationship with China and signed a series of agreements to improve the flow of trade through Asia, such as the International Land-Sea Trade Corridor (ILSTC), which improved the already existing Southern Transport Corridor (STC).

However, in the same month, Singapore announced that it will ban the use of open-loop scrubbers in readiness for the International Maritime Organisation’s (IMO) regulations on sulfur emissions, a move which sparked warnings that cost it its place as the world’s premier bunkering hub. 

Read more:

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.