A highly connected and efficient port, and a vibrant maritime ecosystem are key factors leading to the success and growth of Singapore’s port and maritime industry. Working hand-in-hand with industry, trade associations and unions, the Singapore Government pushes ahead with many transformational initiatives to remain relevant to world’s maritime industry and global economy.
This includes significant investments in port infrastructure (physical and digital) to ensure that Singapore retains its position as a global hub port and leading maritime centre. Today, the Port of Singapore continues to be one of the leading container hub ports in the world. Last year, Singapore was the second busiest container port with 36.6m TEU handled. As the world’s top bunkering port, the annual bunker sales hit the 49.8 million-tonne mark.
Beyond a physical port, Singapore is also home to one of the highest concentrations of international shipping groups and a wide range of maritime services. Singapore is also the 5th largest ship registry in World, and widely recognised as a leading IMC in international benchmarking studies such as ‘The Leading Maritime Capitals of the World’ study by Menon Economics and ‘Xinhua-Baltic Exchange International Shipping Centre Development Index’ where Singapore clinched the top position.