A.P. Moeller-Maersk A/S plans to add more ships to its Singapore base after making the city-state its biggest hub after the headquarters in Denmark, Bloomberg reported, stating most of the new vessels will sail under the island-city’s flag.
“Capitalizing on its strategic location, sophisticated port facilities and shipyards, Singapore has developed into a premier International Maritime Center where ships hub and essential ancillary services in shipping, commerce and logistics flourish,” according to the website of the Maritime Port Authority of Singapore. “The pro-business government policies and a conducive fiscal environment have established the country as a strategic center for maritime business and a leading international maritime center.”
Bloomsberg.com reported that Maersk, which owns an oil unit and a port-terminal operator, also has nine drilling rigs registered in Singapore.
The port’s location also brings new markets for Maersk. Bloomsberg.com reported, “the shipping company plans to open its own agency in the Southeast Asian nation in the second half as trade demand is expected to increase after U.S. sanctions were lifted in 2012.”