Fuel cost spike, choked supply squeeze Singapore’s booming construction sector
Worsening Middle East conflict and recurrent labour shortages are driving up materials, fuel and crane operator costs
Add BT as a preferred source
[SINGAPORE] Rising energy prices and freight disruptions are ratcheting up cost pressures in Singapore’s construction sector, which is already stretched by manpower shortages and a packed project pipeline.
With global shipping routes disrupted and oil prices swinging wildly as conflict escalates in the Middle East, materials costs are climbing while fuel prices shoot up.
The Singapore Contractors Association Limited (SCAL) noted that prices of construction materials have risen by 5 to 15 per cent or more.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
