NOVENA: Singapore, the world’s second-busiest container port, handled 6.5% fewer containers in the first nine months of 2015
Singapore, the world’s second-busiest container port, handled 6.5% fewer containers in the first nine months of 2015 amid slowing growth in global trade.
The port of Singapore saw container throughput dropping to 23.5m teu in the January to September period from 25.1m teu in the same period a year earlier, according to preliminary estimates from the Maritime and Port Authority of Singapore.
In September alone, the island-city handled 2.4m teu, down 13.6% from 2.8m teu year on year, the initial estimates showed.
Volume in September also fell from the 2.5m teu handled in August 2015, its sixth consecutive month-on-month decline.
In the first six months of 2015, the port of Singapore recorded a total throughput of 16m teu, 3.1% lower than the 16.5m teu moved in the first half of last year.
In June 2015, PSA opened the S$3.5bn ($2.5bn) Pasir Panjang Terminal project specifically designed to serve mega containerships. When fully operational by end-2017, Singapore will be able to handle a total of 50m teu of containers annually.
PSA is also working with the Singaporean government on the development of the future Tuas Port, which has a design capacity of 65m teu.
Singapore lost its mantle as the world’s busiest container port to Shanghai in 2010.
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