Singapore container throughput up 3.4% in Jan-Sept - S&P ...

Some of these bottlenecks reflected in the key port indicators last month when container throughput at 3.12 million TEUs, was down 2.8% on year, ... Oil LNG NaturalGas ElectricPower Coal Shipping Petrochemicals Metals Agriculture EnergyTransition LatestinCommodities Listen:AconversationwithEnterprise:Goingallinonupstreampetrochemicals EnterpriseProductsPartnersco-CEOJimTeague,andChrisD’Anna,seniorvicepresidentof... US'RenewableEnergyGroupincreasesdownstreampresencewithAmberResourcesbuy RenewableEnergyGroupwillbuyCalifornia-basedAmberResources,thelatestmovebyabiofuel... FEATURE:NewEAFcapacitytopressureUSHRCprices,raise2022scrapdemand UShot-rolledcoilpriceshitahistorichighin2021amidtightavailability,butnewcapacity... Oil LNG NaturalGas ElectricPower Coal Shipping Petrochemicals Metals Agriculture EnergyTransition INeed MarketInsightsandAnalytics CommodityPricesandEssentialMarketData Real-TimeNews,PricesandAnalysis MapsandGeospatialData ForwardCurvesandRiskValuationData OurMethodology Methodology&Specifications PriceAssessments SubscriberNotes PriceSymbols SymbolSearch&Directories Corrections Complaints References MarketOnClose Index SourcedData(Survey) MethodologyReview&Change MOCParticipationGuidelines Holiday SEEALLREFERENCETOOLS LatestNewsHeadlines AllTopics Videos Podcasts SpecialReports InsightMagazine InsightBlog    Top250Rankings    LatestinMarketInsights Oil LNG NaturalGas ElectricPower Coal NGL&Petrochemicals Metals Agriculture EnergyTransition PLATTSANALYTICSPRODUCTPLATFORM ACCESSANALYTICSHUB AllEvents Webinars Conferences MethodologyEducation Forums GlobalEnergyAwards    GlobalMetalsAwards    FeaturedEvents AluminumSymposium2022 Forums LondonEnergyForum 2022-02-21T00:00:00Z London/Online Forums LNGConference 2022-02-21T00:00:00Z London/Online Inthislist Shipping Singaporecontainerthroughputup3.4%inJan-Sept;down2.8%inSeptamiddelays Commodities|Energy|Petrochemicals|Olefins|Shipping|EnergyTransition AconversationwithEnterprise:Goingallinonupstreampetrochemicals Agriculture|Shipping|DryFreight PlattsDryFreightWire Energy|Oil|Petrochemicals|Olefins|Polymers|CrudeOil AsianRefiningandPetrochemicalsSummit Energy|EnergyTransition|Agriculture|Oil|Renewables|Biofuels|RefinedProducts|JetFuel|Emissions|Carbon|FuelOil|Gasoline US'RenewableEnergyGroupincreasesdownstreampresencewithAmberResourcesbuy Petrochemicals|Olefins|Polymers InsightConversation:JimTeague&ChrisD'Anna,EnterpriseProductsPartners Shipping 21Oct2021|06:57UTC Singaporecontainerthroughputup3.4%inJan-Sept;down2.8%inSeptamiddelays Author SameerMohindru Editor AgamoniGhosh Commodity Shipping Highlights YardsopenedupinTuas AdditionalcapacityasFreeTradeZone Freightatmultiyearhighs Author SameerMohindru Editor AgamoniGhosh Commodity Shipping Singapore'scontainerthroughputwasup3.4%inthefirstninemonthsof2021fromayearearlierand2.4%highercomparedwiththesameperiodof2019tojustover28millionTEUsbuttherearesignificanttimedelaysandriseincostsresultinginevenswitchestoairtransport,Singapore'sSeniorMinisterofStateforTransportCheeHongTatsaid. Notregistered? Receivedailyemailalerts,subscribernotes&personalizeyourexperience. RegisterNow MoreshipsarenowcomingtoSingaporetouseitasacatch-upportandalsoutilizeone-stopservicessuchasbunkering,supplies,andcrewchange,theministertoldreportersOct.20. Deliveriesacrosstheworldforitemsrangingfromhighlysensitivecomputerchipstoessentialfoodingredientsandclothesisdelayedandcostlierduetodisruptions,andsuppliersarelookingatoptionssuchasdrybulkshipsandairtransporttomitigatecosts,marketparticipantssaid. Containerfreightisatmulti-yearhighsamidtightsupplyandlogisticalchallenges,withthePlattsContainerIndexassessedat$7,403.39/FEUonOct.20,morethanfourtimeswhatitwasayearagoandclosetoseventimeswhatitwasaroundthestartoftheglobalpandemic.ThePlattsContainerIndexwasassessedat$1,091.54/FEUattheendofthefirstquarterlastyear. Singaporeisplayingitspartasaglobalhubportbutitisnotcostless,theministersaid."Thereisacosttoourportbecauseboxesnowstayinouryardmuchlongerthanbefore,"hesaidandpointedoutthatlong-dwellingboxesputadditionalpressureonoperations. Accordingtotheminister,Globalvesselschedulereliabilityhasfallenfromanaverageof75%during2018-2020,to35%-40%thisyear,andtheaveragedelayiscloseto7.5daysforlatevesselarrivals. Sincelatelastyear,Singapore'sPSAhasreopenedeightberthsatKeppeland18,000groundslotstoprovide65,000TEUsofyardcapacityandfromlastmonthalsostartedusingyardsatTuas,hesaid. SingaporeCustomshasapproveduseofthis2,000TEUsofadditionalcapacityinTuasasfreetradezonetospeedupthemovementandstorageofcargoes,headded. PSAisexpeditingtheinflowofverytime-sensitiveandcriticalmaterials,includingsemiconductorsandalsoworkingwithcompaniestoorchestratecargoflowsfromChinatoSingapore,toavoiddisruptionsinlocalproductionschedule. InSoutheastAsia,containers'spotratesarefirm.PlattsassessedspotcontainerfreightfromSoutheastAsiatoEastCoastNorthAmericaat$11,000/FEUonOct.30,andfromSoutheastAsiatoWestCoastNorthAmericaat$10,500/FEU,bothunchangeddayonday.Combinedwithpremiumsurchargescommonlyseenontheroute,all-inratesfromSoutheastAsiatoNorthAmericacanrangearound$15,000-$20,000/FEU. Thetrans-shipmentportistakingaseriesofmeasurestomitigatethedisruptions,butthey"wouldnottotallyremovethebottlenecksandcongestioninglobalsupplychains,becausesomeoftheseareupstreamanddownstream,sotheissueisverycomplex,"theministersaid. SlowdowninSeptember Someofthesebottlenecksreflectedinthekeyportindicatorslastmonthwhencontainerthroughputat3.12millionTEUs,wasdown2.8%onyear,accordingtothegovernmentdata.ThenumberoftotalshiparrivalsofalltypesinSingaporeatjustover220milliongrosstonswasalsodown8%onyear. Accordingtomarketparticipants,bunchingandqueuingalongwithlongerturnaroundtimeslowsdownfresharrivals.TheministerconcededthattransshipmentcontainersonaveragespendmoretimeatSingaporeportbeforebeingloadedonships.Duetochangesintheconnectionsfortrans-shipmentcargo,thereisaneedtoreplanandexecuteadditionalcontainermovements,hesaid. Theministersaidthatcongestioninupstreamportsresultsinvesselsarrivingoff-scheduleinSingaporeandthishasledtosignificantvesselbunchingwithmorepeaksandtroughsinportoperations.Thereisevenhighutilizationofwarehouseswithmorestock-upofinventories. Tomakeupfordelayswhichshipsareexperiencing,Singaporeportisopenroundtheclockandrelevantdataisbeingsharedwithindustryplayerstoavoidneedlessqueuing."Thereisnopointtorushtothequeue". Singapore'sinitiativestohelpshippinglinescatchupontheirdelayedscheduleswillnotcompletelysolvetheproblembutreduceit,theministersaid. Tocontinuereadingyoumustloginorregisterwithus. 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