Singapore Maintains Good Maritime Performance in 2018

shipsIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

Singapore wrapped up 2018 with stable maritime performance, recording increases in container and cargo throughput and ship registration.

Container throughput at the Port of Singapore grew by 8.7 percent to 36.6 million TEUs in 2018 from 33.7 million TEUs registered in 2017.

Total cargo throughput remained stable at 630 million tons in 2018, compared to 627.7 million tons seen a year earlier.

Singapore retained its position as the world’s top bunkering port in 2018, with annual bunker sales volume close to the 50 million-ton mark for the second year consecutively.

Additionally, annual vessel arrival tonnage reached 2.79 billion gross tons (GT) in 2018, similar to the 2.8 billion GT achieved in 2017.

The Singapore Registry of Ships continues to rank among the five largest ship registries worldwide. The total tonnage of ships under the Singapore flag climbed by 2.4 percent from 2017’s 88.8 million GT to reach 90.9 million GT in 2018.

Singapore is home to a diverse range of maritime businesses, with more than 5,000 maritime establishments in Singapore. Overall, the maritime sector contributed some 7 percent to Singapore’s gross domestic product (GDP), as explained by Lam Pin Min, Senior Minister of State for Transport and Health.

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