Cargo throughput of port of Singapore increased by 6.2% in January-April 2017

port of SingaporeThe cargo throughput of the port of Singapore increased by 6.2% yoy in period January-April 2017, amounting to 205 million tons. According to the port administration report, the turnover of oil cargo increased by 9.8% yoy to 78.6 million tons, while bulk cargo throughput rose by 6.8% yoy to 5.98 million tons. The container turnover at port of Singapore in period January-April 2017 rose by 10.4% yoy to 10.33 million TEU. The port has strong start of 2017, being supported by the recovery of the Asian economy and increasing trade flows. The cargo throughput reports strong growth in every single month since the beginning of the year.

In April, the container turnover increased by 7.6% yoy to 2.72 million TEU, while the total cargo throughput rose by 2.5% yoy to 52.60 million tons. However, the oil transshipment dropped during the reported month by 10.4% yoy to 18.4 million tons.

The container turnover of the port of Singapore in 2016 amounted to 30.9 million TEU, while cargo turnover amounted to 593.3 million tons.

Port of Singapore refers to the collective facilities and terminals that conduct maritime trade handling functions in harbors and which handle Singapore’s shipping. It is described at the gate to Asia, being located at the cross-roads of the East-West trade and within the seven-hour flight radius to the emerging Asian market. Currently the port is the world’s second-busiest port in terms of total shipping tonnage, it also trans-ships a fifth of the world’s shipping containers, half of the world’s annual supply of crude oil, and is the world’s busiest transshipment port.