Singapore port poised for 2010 opportunity: Minister

DESPITE the global downturn Singapore's maritime cluster with its system of public-private ownership, is well poised to "seize opportunities that present themselves" in the coming year, says to Transport Minister Raymond Lim.

Speaking also as foreign affairs minister, Mr Lim said 2009 as a "challenging year" which saw the port's container traffic decline 13.5 per cent with overall cargo throughput falling 8.9 per cent.

But Mr Lim also noted that Singapore held its global leading role in container throughput, retaining the title as the biggest box port in the world. This claim has been disputed in that much of the Singapore volume is twice counted transhipment containers with many suggesting that Shanghai has taken the global container lead in a more meaningful way.

In the face of a downturn, vessel arrival tonnage in Singapore grew 10.1 per cent to 1.78 billion tons, and bunker sales grew 4.2 per cent to 36.4 million tonnes, he said.

"More ships also registered their confidence in the Singapore flag with the Singapore Registry of Ships recording a 4.4 per cent growth year over year to reach 45.6 million gross tons," said Mr Lim.

He also said Singapore's ability to invest in maritime-related companies paid off with new firms operating from the port including livestock carrier, Oceanic Livestock; international law firm, Hill Dickinson; and insurers P&I Club, the Shipowners' Protection Limited.

The Maritime Port Authority (MPA) initiatives aimed at providing maritime-specific relief measures will complement the broader job credits scheme and special risk sharing initiative of the Singapore Government, he said. "This will cover port dues concessions and the assistance scheme to help defray accreditation costs for bunker surveying companies.

"Additional funds were also allocated to the Maritime Cluster Fund to support companies' new business developments. MPA worked with various partners like the Singapore Shipping Association, the Workforce Development Agency and NTUC's Employment and Employability Institute, on training programmes and skills upgrading for the industry including the Graduate Attachment Programme to promote the maritime industry," Mr Lim said.

Source: www.schednet.com