Singapore still world's busiest container transhipment port, with record 37.5m TEUs of throughput in 2021

IN 2021, Singapore's container throughput rose to a new record high of 37.5 million 20-foot equivalent units (TEUs), helping the Republic to retain its pole position as the world's busiest container transhipment port.

Singapore also kept its position as the top bunkering port, registering a total sales volume of both conventional fuels and liquefied natural gas of about 50 million tonnes last year.

The Republic also garnered a string of accolades for its performance for the year, including being named the top Leading Maritime City of the World for a fifth consecutive time in the international benchmarking study by Norwegian classification society DNV and Norwegian consultancy Menon Economics AS.

Minister for Transport S Iswaran, gave an update on the Republic's performance as a maritime hub at the Singapore Maritime Foundation New Year Conversations on Thursday (Jan 13).

The Port of Singapore, Iswaran said, has added a feather to its cap as it was crowned the "Best Global Seaport" for the first time. Also, it won the best Asian seaport award for the 33rd time at the 2021 Asia Freight, Logistics and Supply Chain Awards.

The stellar showing was despite disruptions to the global supply chain, which has been hit by pandemic-induced movement restrictions and shortage of manpower and equipment amid high demand for durable goods.

A NEWSLETTER FOR YOU

Friday, 8.30 am

Asean Business

Business insights centering on South-east Asia's fast-growing economies.

Sign Up

In total, Singapore handled 599 million tonnes of freight in 2021, higher than the 2020 numbers but lower than those in some of the years pre-pandemic, according to the Maritime and Port Authority of Singapore (MPA) data.

Vessel arrival reached 2.81 billion gross tonnage, marginally lower than that clocked in 2020.

The Singapore Registry of Ships is ranked among the top five ship registries in the world, with the total tonnage of ships under the Singapore flag standing at 92.3 million gross tonnage as of December 2021.

In addition, 9 companies established operations in Singapore and 14 businesses expanded their operations here. Singapore also retained its position as the top international shipping centre in the Xinhua-Baltic International Shipping Centre Development Index for the eighth consecutive year.

The minister also stated that the Maritime and Port Authority of Singapore (MPA) has awarded about S$3 million of funding to 8 projects involving 35 companies working together to accelerate the development of digital products and solutions for the bunkering sector.

These projects would leverage data from the mass flow meter systems, new Internet of Things devices, and MPA's Maritime Data Hub to reduce the time taken to complete bunkering documentation such as the bunker delivery note.

"At the ecosystem level, this is estimated to save the industry over 39,000 man-days annually, and help reinforce our reputation as a trusted and efficient bunkering hub," said Iswaran.