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Just Released: "Singapore Shipping Report Q2 2013"

New Transportation market report from Business Monitor International: "Singapore Shipping Report Q2 2013"


Boston, MA -- (SBWIRE) -- 04/30/2013 -- 2013 is set to be a good year for the Port of Singapore as the Asian facility is set to regain its title as the world's largest container port, ceded to the Chinese Port of Shanghai in 2010. We project that Singapore will retain the number-one spot over our forecast period, and investments by the facility should also ensure its success in the long term.

Headline Industry Data

- Port of Singapore's gross tonnage will rise by 2.5% in 2013, with average annual growth at 3.1% during our forecast period to 2017.
- Port of Singapore box handling set to grow by 6.7% in 2013, with average annual growth set at 5.4% per annum over the medium term.
- The country's overall trade will grow by 3.3% in real terms in 2013, and will average 4.2% to 2017.

Key Industry Trends

PSA Records 5.2% Growth In Global Throughput: Singapore-based international ports operator PSA International registered 5.2% year-on-year (y-o-y) rise in global throughput at its various terminals worldwide to 60.06mn twenty-foot equivalent units (TEUs) in 2012. This was driven by contributions from PSA Singapore Terminals that handled 31.26mn TEUs, an increase of 6.4% y-o-y as well as other PSA terminals outside Singapore, which posted a 3.9% y-o-y rise to 28.8mn TEUs.

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Busan Signs MOU With PSA International: The Busan Port Authority in South Korea in December 2012 signed a memorandum of understanding with Singaporean port operator PSA International. PSA International will work with the authority to further develop the port, which is already the largest transhipment facility in northeast Asia. This will include extending economic cooperation between South Korea and its Asian neighbours such as Singapore.

Mercator Lines: Time Charter Losses More Than Expected: Singapore-based dry bulk vessel owner Mercator Lines predicts that it will suffer costs totalling US$15.8mn resulting from the premature termination of two of its time charters. The amount is US$800,000 more than previously suggested to investors in December 2012.

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