The Port of Singapore reported its second-highest container throughput last year despite a marginal dip from 2021 when it recorded its all-time record volume.

The port recorded a container throughput of 37.3 million twenty-foot equivalent units (TEUs) in 2022, compared to the 37.6 million TEUs in 2021. 

Port of Singapore noted that in 2022, Singapore's position as a trusted, global transhipment hub was strengthened amidst challenging global economic conditions.

Source: Maritime and Port Authority of Singapore (MPA)

"The Port of Singapore remained resilient compared to the decline in global container trade of about 3% to 4% in 2022. Despite the global slowdown in production and consumption, Singapore's container throughput in 2022 reached 37.3 million TEUs, the second-highest throughput on record," it said in a report.

This is a slight decline of 0.7% from the record throughput of 37.6 million TEUs in 2021.

A total of 577.7 million tonnes of cargo in 2022 was handled, and vessel arrival tonnage hit 2.83 billion Gross Tonnage (GT).

World's largest bunkering port

For the period, Singapore Port noted that Singapore remained a favoured location for bunkers and has made progress in supplying alternative fuels, such as biofuels, in supporting maritime decarbonisation.

It said a total of 47.9 million tonnes of bunker sales was registered in 2022.

While total volume declined by 4.3% year-on-year, bunker sales in 2022 included about 140,000 tonnes of biofuel blends over more than 90 biofuel bunkering operations, surpassing the 16,000 tonnes in Liquefied Natural Gas bunker sales, Port of Singapore added.

Meanwhile, the Singapore Registry of Ships (SRS) continues to rank as one of the top five largest ship registries globally.

Singapore Port said the total tonnage of ships under the Singapore flag in 2022 was close to 96 million GT, about a 4% increase from 2021.

Last year, 25 Singapore-flagged ships from 13 companies received Green Ship certificates2 under the Green Ship Programme. 

"Last year, total business spending by shipping companies exceeded S$4.3 billion. More than 30 companies established or expanded their operations in Singapore, supported under programmes by the Maritime and Port Authority of Singapore (MPA)," the port added.

"This is more than 30% higher than the number of companies which expanded operations or set up in Singapore in 2021," it said.

Singapore was also recognised as the top international maritime city in the Xinhua-Baltic International Shipping Centre Development Index and Menon Economics-DNV’s Leading Maritime Cities of the World report.