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
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[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.
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