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Singapore hits new high, lifts 39 million TEU in 2023

Singapore hits new high, lifts 39 million TEU in 2023

Singapore’s Acting Transport Minister Chee Hong Tat announced that Singapore achieved a record-high maritime container throughput of 39.01 million TEU in 2023.

Speaking at the Singapore Maritime Foundation New Year Conversations held recently, Mr Chee highlighted a substantial increase in annual vessel arrival tonnage, reaching 3.09 billion gross tons, a 9.4 per cent rise from 2022.

Also, Singapore’s maritime terminal handled 591.70 million tons of cargo in 2023, while the total tonnage of ships under the Singapore flag reached 99.56 million gross tons, according to Mr Chee.

The acting minister emphasised the need to enhance the port by integrating digital and environmentally friendly technologies and emphasised the importance of building a local maritime talent pool to meet the demands of the maritime industry.

With reshoring initiatives, global trade tensions and conflicts, sustainability, OBOR, developments on the isthmus of Kra and a slew of other challenges and opportunities, many do speculate if Singapore will be able to achieve its objective  to increase throughput in the Tuas Terminal, which has been reported to have a throughput capacity of 65 million TEU’s by 2040. These latest numbers are however a step in the right direction for the island state.

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