Seaport Sees Growth in Container Throughput and Bunker Sales; Airport May Exceed Pre-Covid Levels in 2025
Singapore’s maritime industry is set for a record-breaking year in 2024, with significant growth in both container throughput and bunker sales. According to data from the Maritime and Port Authority of Singapore (MPA), the container throughput for the first 10 months of 2024 grew by 6.2%, reaching 34.2 million TEUs (twenty-foot equivalent units), surpassing the same period in 2023. This marks the highest throughput recorded for the first 10 months of a year, with expectations that the strong momentum will continue, setting a new annual record.
The bunkering sector, another critical aspect of Singapore’s maritime industry, also posted a strong performance. Bunker sales surged by 7.5%, reaching 45.7 million tonnes during the same period. As the world’s largest bunkering port, Singapore has been a global leader in supplying fuel to maritime vessels, further reinforcing its status as a key player in the global shipping industry. In 2023, Singapore’s ports saw 39 million TEUs of container throughput and 51.8 million tonnes of bunker sales, setting new records.
With the maritime sector continuing to show impressive growth, Transport Minister Chee Hong Tat expressed optimism about the industry’s future, pointing to the ongoing expansion and modernization of the nation’s ports, including the shift of operations to Tuas Port by 2027.
Looking beyond maritime, Singapore’s airport is also on track to exceed pre-Covid levels in passenger traffic by next year, further underscoring the country’s strong recovery and growth across various sectors.
