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
03/03
2022
Amid uncertainty over receiving timely payments, due to sanctions imposed by western nations on Russia, Bangladeshi garment makers have been urged to be cautious in exporting to Moscow.
10/08
2021
OOCL has launched a rail-sea service from China to the US east coast, which it claims is a first.
10/06
2022
SITC International Holdings has completed the sell-off of its entire bulk carrier fleet. The Hong Kong-based SITC, the parent company of intra-Asia box carrier SITC Container Lines, marks its exit from the dry bulk segment as the group wants to focus on its core container shipping business.