Port of Singapore surpasses 37 million TEUs in second busiest year in history

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