SINGAPORE: Port of Singapore’s shipping has been published which states that the port of Singapore is not going to overtake the port of Shanghai for the crown of the world’s biggest container port, stating that Shanghai port will increase further in future up till year 2019.
Nevertheless, growth in Singapore will remain positive, buoyed by a return to growth (albeit tentative and uneven) in Europe, and the ongoing recovery in the US.
Headline Industry Data
* The port of Singapore’s gross tonnage will grow by 5.3% in 2015 and will expand an average 5.4% over our medium-term forecast period to 2019.
* The port of Singapore’s box handling set to grow by 3.8% in 2015, with average annual growth set at 3.7% per annum over the medium term.
* The country’s overall trade will grow by 4.5% in real terms in 2015 and will average 4.3% to 2019.
Shippers Plan To Establish Routes From Subic Port: Shipping firms plan to open routes from the Philippine port of Subic to Singapore and Shanghai as more firms shift operations from the congested Manila port to this port in Central Luzon, according to the Subic Bay Metropolitan Authority (SBMA). Port traffic at the Subic container port is expected to increase 84% year-on-year (y-o-y) in 2014 to 70,000 twenty-foot equivalent units (TEUs), compared with 38,000TEUs in 2013.
Piracy In South-East Asia To Increase Operational Costs: The risk of heightened operational costs due to an uptick in piracy in South East Asia is a major threat to the shipping industry. The prevalence of hijackings on tankers in 2014 presents a specific risk for the liquid bulk shipping sector.
NOL Registers Loss Of USD23mn In Q314 : Singaporean ocean freight services provider Neptune Orient Lines (NOL) registered a loss of USD23mn in Q314 compared to a net profit of USD20mn during the same period a year before due to congestion…
The Singapore Shipping Report has been researched at source and features latest-available data and Business Monitor International (BMI)’s independent forecasting, critically analysing international transport of dry bulk and containers. The report evaluates the global commodities and trade backdrop, alongside in-depth country-specific analysis of trade prospects. The report also contains company profiles covering leading multinational and national shipping companies and analysis of latest industry news, trends and regulatory developments in Singapore.
BMI’s Singapore Shipping Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the shipping industry in Singapore.
