Consulting firm Menon Business Consulting group has released a survey which shows that Singapore is the world’s leading maritime capital for its business friendly services, and its strategic location business Asia and Europe, according to Ship & Bunker.
PTI previously reported that Singapore is also the top 5 transhipment hub with around 85% of its cargo transported to another port of call.
According to a statement released from the survey: “Singapore has gained a position in the global economy few would have predicted 40 years ago.
“As recently as 10 years ago, Singapore lacked maritime research and education, and the lines between foreign and domestic companies were weak. Today, the city plays a key role in all aspects of the maritime industry.”
Singapore has also been involved in a mega-terminal project, by which the Maritime Port Authority of Singapore (MPA) and Dredging International Asia Pacific-Daelim have opted into joint-venture to construct a US$1.8 billion.
As well as opting into port projects, the Maritime Port Authority of Singapore has entered into an agreement with mobile technology provider M1 to implement this type of technology into the maritime industry to improve its overall productivity.