Singapore’s Port Breaks Records in Vessel Arrivals and Container Handling for 2024!

In an impressive feat for the maritime industry, Singapore's port has achieved a staggering new record of 3.11 billion gross tons in arriving vessel traffic for 2024—an increase from the previous record of 3.09 billion gross tons set in 2023. This remarkable growth showcases Singapore's pivotal role in global shipping and logistics.

The Maritime and Port Authority of Singapore (MPA) made this announcement during the Singapore Maritime Foundation's (SMF) New Year Conversations held on January 15. The annual vessel arrival tonnage, which includes the overall internal volume of all ships entering the port, serves as a vital indicator of a port's shipping traffic.

Additionally, Singapore's port handled a record-breaking 41.12 million shipping containers, known as twenty-foot equivalent units (TEUs), marking an all-time high and surpassing 2023's record of 39.01 million TEUs. This achievement cements Singapore's status as the world's second-busiest container port, right after Shanghai.

The MPA also reported substantial advancements in other categories, such as bunker fuel sales and the total tonnage of Singapore-registered ships. In 2024, Singapore's port recorded a total cargo handling of 622.67 million tonnes, reflecting an increase from 592.01 million tonnes in 2023, although it still falls short of the pre-pandemic figure of 626.52 million tonnes in 2019.

Among the most significant highlights of 2024 was a dramatic 6% surge in total bunker sales, reaching 54.92 million tonnes compared to 51.82 million tonnes in 2023. This increase can be partially attributed to extended shipping routes between Asia and Europe due to disruptions in the Red Sea, effectively positioning Singapore as the largest bunkering port in the world, supplying over one-sixth of the global shipping fuel.

In addressing congestion issues stemming from the Red Sea crisis, MPA collaborated with PSA Singapore and unions to efficiently manage port operations by commissioning new berths at Tuas Port and optimizing schedules to mitigate delays. As vessels adopted longer routes to bypass disruptions in the Red Sea, these efforts proved crucial.

Furthermore, Singapore made notable strides in sustainability by setting new records in the sale of alternative bunker fuels, reaching 1.34 million tonnes in 2024. The use of biofuel blends saw a significant rise from 520,000 tonnes in the previous year to 880,000 tonnes, while the sale of liquefied natural gas soared from 110,000 tonnes to 460,000 tonnes. Additionally, the sale of ammonia and methanol—an industry first—marks a progressive step towards cleaner energy solutions in maritime operations.

As part of its ambitious project, reclamation work for the second phase of the Tuas mega port is approximately 75% complete, with plans for 11 operational berths and the full capacity to support sophisticated shipping operations by the 2040s. By 2027, operations in older terminals will transition to the new $20 billion facility, paving the way for a more streamlined maritime landscape.

The MPA has forecast steady growth for Singapore’s maritime sector as geopolitical dynamics reshape international trade routes. While uncertainties loom due to evolving global relations and regional competition, the industry remains optimistic with robust support from key stakeholders.

In a move towards innovation, the MPA is integrating artificial intelligence in issuing insurance certificates for registered ships, significantly speeding up the process—from several days to just three minutes for renewals. The anticipated rollout of trials signifies a leap forward in operational efficiency.

With over 30 maritime companies establishing or expanding their operations in Singapore in 2024, the nation solidifies its role as a key player in maritime trade. MPA continues to seek partnerships for emerging sectors, including sustainable fuels, cutting-edge technology, and new frontiers in maritime business.

If you're watching global trade trends, keep your eyes on Singapore’s port as it sets sail towards a future filled with record-breaking achievements and groundbreaking innovations!