Singapore’s Maritime Sector on Track for Record 2024
- Kelvin Tan
- Dec 9, 2024
- 1 min read
Singapore’s maritime industry is on course for a record-breaking year, according to Transport Minister Chee Hong Tat.
From January to October, container throughput grew 6.2% year-on-year, reaching 34.2 million TEUs, the highest ever recorded for this period. Bunker sales, which involve supplying fuel to maritime vessels, also rose by 7.5% to 45.7 million tonnes, reinforcing Singapore’s status as the world’s largest bunkering port.
Minister Chee highlighted Singapore’s reputation as a reliable transhipment hub and its ability to adapt to global supply chain disruptions, such as the Red Sea and Suez Canal situations. He noted that this resilience contributed to the growth in maritime business despite global challenges.
In aviation, Changi Airport Group reported 61.2 million passenger movements from January to November, a 15% increase. Traffic in October and November exceeded pre-COVID levels. Minister Chee expressed confidence that Changi Airport will surpass pre-pandemic volumes in 2025, driven by strong momentum during the northern winter season.
Singapore’s aviation growth this year includes 16 new city links and 10 new airlines, such as Air Canada, Peach Aviation, and Shandong Airlines. Daily flights to key destinations like Jakarta were also increased, further boosting connectivity.
Singapore’s maritime and aviation sectors remain central to its economic success, with robust growth paving the way for a strong 2025.
Original article by Derryn Wong for The Business Times. Read more here or download the PDF below.
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