Maritime & Port Authority Of Singapore (MPA Singapore) shows cautious optimism for 2024 amidst new highs in vessel arrival tonnage, container throughput, bunker sales and tonnage registration in 2023.
Gross tonnage record
As Chee Hong Tat, Singapore’s Acting Minister for Transport, pointed out at the Singapore Maritime Foundation (SMF) New Year Conversations event, 2023 was a record-breaking year for the MPA. Singapore’s significant achievements during 2023 include, but are not limited to, the following:
Record-breaking gross tonnage
The annual vessel arrival tonnage in the Port of Singapore crossed three billion Gross Tonnage (GT) for the first time, increasing by 9.4% over 2022 and setting a high of 3.09 billion GT in 2023.
Container throughput growth
Meanwhile, Singapore’s container throughput in 2023 grew by 4.6% reaching a new high of 39.01 million twenty-foot equivalent units (TEUs), compared to the previous record of 37.57 million TEUs in 2021.
Cargo handling
A total of 591.70 million tonnes of cargo was handled in 2023, up from 578.22 million tonnes in 2022. The average monthly frequency of regional ferry trips has recovered to about 70% of pre-COVID levels.
Alternative fuels and electrification
Singapore has significant progress in the supply of alternative fuels and the electrification of harbour craft to support maritime decarbonisation and transformation such as:
- Bunker sales of biofuel blends increased to 520,000 tonnes, which more than tripled from 140,000 tonnes in 2022. Biofuel blends of up to B30 are commercially available, while trials of up to B100 are on-going. Liquefied natural gas bunker sales amounted to 110,000 tonnes in 2023, up from 16,000 tonnes in 2022.
- In July 2023, the Maritime and Port Authority of Singapore (MPA) successfully conducted the world’s first ship-to-containership methanol bunkering operation, where about 300 tonnes of green methanol was supplied for the first time in the Port of Singapore.
- 51.82 million tonnes of bunker sales was registered in 2023, surpassing the previous record of 50.64 million tonnes in 2017 – reflecting Singapore’s support to the global shipping community as a bunkering hub. Of this, 1.2% is alternative fuels and this is expected to continue with good growth prospects in the coming year.
Singapore as an International Maritime Centre
Last year, total business spending by key maritime companies overseen by MPA exceeded S$4.8 billion, up from S$4.3 billion in 2022. 25 maritime companies established or expanded their operations in Singapore last year. These include maritime services companies and companies setting up sustainability desks in Singapore as part of their decarbonisation strategy and growth plans.
Additionally, Singapore retained its lead as the world’s top maritime centre in the Xinhua-Baltic International Shipping Centre Development Index for the 10th consecutive year in 2023. The Port of Singapore was also named best global seaport for the third straight year and best Asian seaport for the 35th time at the Asian Freight, Logistics and Supply Chain Awards.
Driving digitalisation
To boost the efficiency and transparency of bunkering delivery documentation and workflow in the Port of Singapore, MPA implemented the Digital Bunkering initiative in November 2023.
To date, four solution providers have been approved by MPA, and three bunker suppliers and barge operators have commenced digital bunkering operations. More companies are expected to be on-boarded in the coming year.
When fully implemented, digital bunkering is expected to save up to 40,000 man-hours annually.
Local maritime talent pool
Finally, in November 2023, MPA launched ‘Sea the Difference’, a campaign that celebrates opportunities and highlights the diversity of jobs in Maritime Singapore. The campaign aims to inspire more to explore new career and professional development opportunities in the rapidly transforming maritime industry.
