Singapore: New Bunker Sales Record, Container Throughput Falls

By Aiswarya Lakshmi
Thursday, January 14, 2016
Photo: Ministry of Transport, Government of Singapore

 Singapore’s maritime industry had a mixed performance in 2015. While the Republic remained the world’s top bunkering port, with the volume of bunkers sold last year increasing by 6.5 per cent, container and cargo throughput contracted by 8.7 per cent and 1.1 per cent respectively.

 
Singapore remained the world's top bunkering port with a 6.5 per cent increase in volume of bunkers sold.
 
According to statistics released by the Maritime and Port Authority of Singapore (MPA), container throughput contracted by 8.7 per cent to 30.9 million TEUs (20-foot equivalent units) in 2015 over 2014. 
 
Container throughput and cargo throughput, however, contracted by 8.7 and 1.1 per cent respectively. 
 
Rebalancing of volumes across container shipping alliances agreements, and an increase in direct sailing due to lower oil prices also contributed to the decreasing volume at the world's second-busiest container port, after Shanghai, said the MPA.
 
The container shipping market has been plagued by sluggish demand and overcapacity in recent years.
 
The gap between Singapore and Shanghai, the world’s largest box port, continued to grow last year and there is now estimated to be about a 6m teu difference between the two Asian giants. 
 
Singapore’s success as a world-leading container port is mainly due to transhipment volumes. About 85% of the containers that arrive in Singapore are transhipped to another port of call, unlike Shanghai port that mainly serves importers and exporters for the growing Chinese economy.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Fitch Warning on NordLB Shipping Reduction Plan

Norddeutsche Landesbank Girozentrale's (NORD/LB) strategy to reduce its shipping exposures by EUR4bn-6bn over the next three years makes sense, but will likely encounter high execution risks,

Tideland Signal Acquires Julius Signal

Tideland Signal Corporation, now part of Xylem, has entered into a definitive agreement to acquire certain assets of Julius Signal, extending the company’s portfolio

North P&I Club Repots Positive Financial Performance

North P&I Club reports that an exceptionally low year for claims has helped it increase its free reserves by $90 million to $428 million and deliver a combined ratio of 73.

Ports

Port of Caen Orders Damen ASD Tug 2810

The Port of Caen/Chamber of Commerce & Industry Caen Normandy (Chambre de Commerce et d’industrie de Caen Normandie) has placed an order for a Damen ASD Tug 2810.

Fos Tanker Queue Grows as Strike Impacts Refinery Ops

Nearly two dozen vessels were queued outside the French oil import terminal in Fos, southern France on Thursday, held up by a strike organised by the hardline CGT

Aquino: China Breaks South China Sea Deal

Philippine President Benigno Aquino on Thursday accused China of breaking a U.S.-brokered deal between the two nations on the Scarborough Shoal, an uninhabited rocky outcrop in the South China Sea.

Finance

Fitch Warning on NordLB Shipping Reduction Plan

Norddeutsche Landesbank Girozentrale's (NORD/LB) strategy to reduce its shipping exposures by EUR4bn-6bn over the next three years makes sense, but will likely encounter high execution risks,

Hanjin Vessel Seized in South Africa

Hanjin Shipping-operated bulker Hanjin Paradip has been arrested by a South Africa for alleged unpaid charter fees.    The 82,158 dwt bulker, which has been used to transport grain and minerals,

World’s Biggest LNG Buyer Becomes Seller

EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one

Fuels & Lubes

WSS: Post-combustion Fuel Treatment Cuts Vessel Costs, Risk

Wilhelmsen Ships Service, a provider of products and services to the shipping industry, is advising vessel operators to wage war on soot. According to WSS, soot

EGAS: Egypt to tender for 10 LNG Cargoes

Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday.

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings

Container Ships

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the

Logistics

Siem Renews Contract for Seven Reefers

Norwegian liner Siem Shipping Inc. has won a one-year contract renewal for a regular weekly service from Ecuador to St. Petersburg, Russia. The contract extension

Zim Sinks to Red

Israeli ocean carrier ZIM Integrated Shipping Services Ltd. (ZIM) has sunk to the red in the first quarter of 2016 after staying in the black for almost a year.

Lower Large Dry Bulk Rates drag Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday dragged down by lower demand for larger vessel segments.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1167 sec (9 req/sec)