Good 2008 for Singapore despite year-end downturn

Singapore’s maritime and port sector defied economic gravity in the later half of 2008 to hit new highs in vessel arrival tonnage, container throughput, cargo throughput, bunkering volumes and fleet size.

The Maritime and Port Authority of Singapore’s efforts to develop Singapore as a premier global hub port and an international maritime centre continued to yield good results. The port of Singapore retained its global lead in vessel arrival tonnage, containers handled, and bunkers lifted, while the Singapore registry of ships is currently the fourth largest in the world. Singapore is also home to more than 100 international shipping groups. The maritime cluster as a whole employs more than 100,000 people and contributes some seven percent to Singapore’s GDP. Singapore’s port and maritime performance in 2008 was announced by Minister for Transport and Second Minister for Foreign Affairs, Mr Raymond Lim.

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