Singapore’s Port has achieved new milestones in 2023, setting records in container traffic, vessel arrivals, and bunker sales, according to the latest data released on January 12. The Port of Singapore, a critical hub in global trade and logistics, witnessed a significant surge in activity despite the challenges posed by ongoing geopolitical tensions and supply chain disruptions.
Record-Breaking Container Throughput
The Maritime and Port Authority of Singapore (MPA) reported that container throughput in 2023 soared to a historic high, with a 4.6% increase compared to the previous year. The port handled an unprecedented 39.01 million 20-foot equivalent units (TEUs), surpassing the previous record of approximately 37.6 million TEUs set in 2021. TEUs, a standard measure for container ships and terminal capacity, highlight the significant cargo volume managed by the port.
Surge in Cargo Handling and Ferry Traffic
The total cargo handled in 2023 reached 591.70 million tonnes, marking an increase from the 578.22 million tonnes in 2022. In addition to the cargo volume, the Port of Singapore also saw a recovery in regional ferry traffic. The average monthly frequency of regional ferry trips has now reached about 70% of the levels observed before the COVID-19 pandemic, indicating a rebound in regional connectivity.
Historic Vessel Arrival Tonnage
Another record was set in the annual vessel arrival tonnage, a key indicator of vessel traffic at the port. For the first time, the Port of Singapore’s vessel arrival tonnage exceeded 3 billion GT (gross tonnage) in 2023. The total of 3.09 billion GT last year represents a 9.4% increase from 2022, underscoring the port’s growing significance as a global maritime hub.
The record-breaking performance of the Port of Singapore in 2023 demonstrates its resilience and strategic importance in the global maritime industry, successfully navigating the complexities of international trade and logistics amidst a challenging global environment.
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