Shipping sector has something to celebrate
The maritime cluster employs more than 170,000 people and contributes some 7 per cent to Singapore's gross domestic product
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THE members of the shipping community attending last Friday's Singapore Maritime Foundation New Year cocktail reception had a lot to celebrate.
Lui Tuck Yew, Minister for Transport, announced the advance estimates of Singapore's port and maritime performance last year. With one exception, the story is of continuous growth since 2010.
Mr Lui said that Port of Singapore achieved good growth in annual vessel arrival tonnage, and container and cargo throughput. The Singapore Registry of Ships grew steadily and ranks among the top 10 worldwide. Singapore also remained the top bunkering port in 2014, though throughput dipped.
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