Port of Singapore surpasses 37 million TEUs in second busiest year in history
Port of Singapore has reported a container throughput of 37.3 million TEUs in 2022, which represents a slight decline of 0.7% compared with the all-time record volumes in the previous year.
Despite the fall of 3-4% in global container trade, the Port of Singapore achieved its second busiest year in its history.
At the same time, the port handled 577.7 million tonnes of cargo in 2022, while vessel arrival tonnage hit 2.83 billion gross tonnage (GT).
The port believes that its position as a "trusted, global transshipment hub" was strengthened amidst challenging global economic conditions during the last year.
In 2022, total business spending by shipping companies exceeded US$4.3 billion, and more than 30 companies established or expanded their operations in Singapore, according to Maritime Port Authority (MPA) Singapore. This is more than 30% higher than the number of companies which expanded operations or set up in Singapore in 2021.
Source: Container News
Related News
02/12
2024
Due in part to the influence of the peak season, freight prices from China have remained high in recent months. This has had a significant effect on global supply chains in addition to import-export enterprises.
23/07
2021
Covering a majority of the Indian subcontinent, India is an Asian country that is at the heart of trade across vital shipping routes.
19/06
2023
The average number of days for which container vessels were in port at the world’s 20 busiest box ports decreased from April to May by 4.7% to 1.79 days, according to the Shanghai Shipping Exchange (SSE).