In 2024, Singapore’s maritime industry reached new heights, achieving remarkable milestones across several key performance metrics, as reported by the Maritime and Port Authority of Singapore (MPA). The country’s port remains a global powerhouse, with significant growth in tonnage, cargo handled, and fuel sales, underscoring Singapore’s vital role in the global maritime and shipping industries.
Singapore’s port set new records for annual vessel arrival tonnage, reaching an impressive 3.11 billion gross tons (GT). Additionally, the total tonnage of ships under the Singapore flag hit 108 million GT, further solidifying the country’s position as a leading maritime hub. This growth is a reflection of Singapore’s robust port infrastructure and strategic positioning in global trade routes.
Cargo throughput at Singapore’s port grew by 5.2%, reaching 622.67 million tonnes. The container throughput surpassed a significant milestone, exceeding 40 million TEUs for the first time and achieving 41.12 million TEUs in 2024, a 5.4% increase. This places Singapore as the world’s largest container transshipment hub, reinforcing its central role in facilitating international trade.
Bunker fuel sales in Singapore set a new record, with 54.92 million tonnes sold, reflecting a 6.0% year-on-year increase. Notably, sales of alternative bunker fuels made a significant leap, surpassing one million tonnes for the first time, reaching 1.34 million tonnes in 2024. This growth highlights Singapore’s continued leadership in adopting sustainable energy solutions for the maritime sector.
MPA continued to streamline operations and regulatory measures, notably reducing the verification frequency for mass flow meters, which is projected to save the industry approximately S$300,000 annually. The Port Innovation Ecosystem Reimagined @BLOCK71 program has flourished, growing from 17 start-ups in 2018 to over 140 today, reflecting the vibrant innovation scene within Singapore’s maritime sector.
In terms of digitalisation, Singapore became the first port in the world to implement digital bunkering at scale. Starting from April 1, 2025, the issuance of electronic bunker delivery notes will become mandatory, marking a significant step forward in port digitisation.
Singapore also made history with the world’s first use of ammonia-fueled bunkering in 2024. The country is at the forefront of developing international standards for ammonia and methanol bunkering, paving the way for greener fuel solutions in the shipping industry.
Despite global geopolitical uncertainties and trade disruptions, global seaborne trade is projected to grow by 1.9% in 2025. Singapore’s maritime sector is well-positioned to maintain its momentum, thanks to its innovative policies, state-of-the-art infrastructure, and commitment to sustainability.
The Maritime and Port Authority of Singapore (MPA), established on February 2, 1996, continues to play a crucial role in advancing Singapore as a premier global hub port and international maritime center. MPA drives Singapore’s maritime and port development, serving as a regulator, planner, and champion of innovation, digitalisation, and decarbonisation efforts at both the regional and international levels. Through its strategic initiatives, MPA ensures that Singapore remains a key player in global maritime trade, safeguarding the country’s maritime interests and contributing to the future of sustainable shipping.
You Might Be Interested In:
