Recently published research from Business Monitor International, "Singapore Freight Transport Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/09/2014 -- Singapore's role as a global transhipment hub is both its blessing and its curse. In times such as these, when key markets in Europe and the US are either recessionary or growing sluggishly, it can be hit by depleted freight volumes. In 2014 we forecast growth in both port and airport total tonnage volumes. Both facilities are investing considerably, and we are confident of growth over the medium and long term.
Headline Industry Data
- 2014 air freight tonnage through Changi International Airport to grow 1.1% after a 1.8% contraction in 2013. Growth over our forecast period (2014-2018) to average 1.2% a year.
- The port of Singapore's gross tonnage will grow by 3.2% in 2014, with average annual growth at 3.2% during our forecast period.
- The country's overall trade will grow by 3.4% in real terms in 2014, to average 4.1% to 2018.
View Full Report Details and Table of Contents
Key Industry Trends
Singapore Reveals US$8bn Expansion Plans: The government intends to invest SGD8.8mn (US$7mn) in expanding the capacity of its container port this fiscal year. The project, which is part of Prime Minister Lee Hsien Loong's push for an economic and popular revival, comes as the Port of Shanghai overtook Singapore to become the world's busiest port.
Cargo Handling Drops 2.5% At Changi Airport: Changi registered a 2.5% year-on-year (y-o-y) decline in cargo handling to 152,800 tonnes of freight in September 2013. Air cargo shipments at the air port climbed 0.7% y-o-y to 1.4mn tonnes in January-September.
CEVA To Open Logistics Centre: Global company CEVA Logistics intends to open its first Centre of Logistics Excellence in the Asia Pacific region at Changi. The centre will improve supply chain efficiency in Asia through optimisation and enhanced visibility, integrated services and technological solutions.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Vietnam Freight Transport Report Q1 2014
- Australia Freight Transport Report Q1 2014
- Iran Freight Transport Report Q1 2014
- Israel Freight Transport Report Q1 2014
- Brazil Freight Transport Report Q1 2014
- Argentina Freight Transport Report Q1 2014
- United Arab Emirates Freight Transport Report Q1 2014
- Panama Freight Transport Report Q1 2014
- Malaysia Freight Transport Report Q1 2014
- Philippines Freight Transport Report Q1 2014