Singapore container port volumes up 8.7% in 2018

Singapore container port volumes up 8.7% in 2018
PHOTO CREDIT: Singaporepsa

The port of Singapore saw an 8.7% growth in container volumes to hit 36.6m teu last year, confirming the city state’s position as the world’s second largest boxport.

The strong growth in container volumes in 2018 was revealed along with other port performance figures by Lam Pin Min, Senior Minister of State for Transport and Health, at the Singapore Maritime Foundation New Year cocktail reception on Monday, who said, that 2018 had been a “year of uncertainty”, but, “Thankfully, Maritime Singapore fared not too badly.”

Other port numbers did not show the robust growth of 8.7% growth in container volumes with most either steady or marginally lower than 2017. 

Total cargo throughput was up slightly at 630m tonnes last year compared to 627.7 million tonnes a year earlier.

Singapore remained the world’s largest bunkering port in 2018 although the volumes sold in the port slipped to 49.8 million tonnes compared to 50.6m tonnes a year earlier.

Annual vessel arrival tonnage was 2.79 billion gross tons in 2018, similar to the 2.8 billion gross tonnes achieved in 2017.

The Singapore Registry of Ships enjoyed a good year with the total tonnage of ships under the Singapore flag climbing 2.4% from 2017’s 88.8m gross tonnes to reach 90.9 million gross tonnes in 2018.

Minister Lam noted that Singapore continued to attract top players with Thenamaris setting up a commercial ship management office and the World Shipping Council announcing it would be setting up its Asia office in the Lion City.

He said that companies already continued to expand with China Cosco taking over Cogent Logistics and CMA CGM’s plans to consolidate CNC Line’s intra-Asia into APL in Singapore.

Looking ahead on the container port front Singapore made positive strides in ensuring future volumes last year with Ocean Network Express (ONE) committing to a 4 million TEU joint venture terminal with PSA and Cosco Shipping Ports adding 2 million TEU to its joint venture terminal with PSA to bring its annual capacity to 5 million TEU. 

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