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Singapore sees 4.6% container port growth, new companies setting up

Photo: Marcus Hand singaporenew.jpg
Singapore’s container port, the world’s second largest has returned to growth in 2021, and the city state is continuing to attract new companies to set up operations despite the pandemic.

Chee Hong Tat, Singapore’s Senior Minister of State for Transport, said that Singapore port posted 4.6% growth from January to May this year compared to 2020, and 3.9% compared to 2019 before the pandemic. Overall, for 2020 Singapore saw a 0.9% drop in container volumes.

“I am encouraged by the positive development, and would like to thank our workers, companies and partners for their resilience and working well together to achieve this outcome,” Minister Chee said at the virtual launch of the Smart Port Challenge 2021.

“Neither Covid-19 nor the Suez Canal incident earlier this year prevented us from growing our port operations.”

Singapore has continued to see growth of its maritime cluster with new 11 shipping groups moving into Singapore in 2020 and eight maritime companies expanding operations.

“The investment pipeline remains healthy. From January to May 2021, five maritime companies have expanded or established new operations in Singapore under the support of the Maritime and Port Authority of Singapore (MPA),” Minister Chee said.

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