(July 15): The congestion that’s been plaguing Singapore’s port is showing signs of easing, with container ship arrivals falling to the lowest in more than a year last month, official data show.
Vessel arrivals, calculated by total shipping tonnage, were around 241 million tonnes in June, 10% less than the previous month and the lowest since February 2023, according to the figures from the Maritime and Port Authority of Singapore.
Container throughput at the Asian shipping hub also dropped 5% from the month before, adding to signs the maritime logjam, caused by the rerouting of ships away from the Red Sea due to Houthi attacks, was beginning to ease. Average wait times at the port are also getting shorter, according to a report from The Business Times.
The jury is still out on whether it’s the start of a trend or a short-term anomaly. The figures may partially reflect the fact that some vessel owners are opting to unload or refuel at Malaysian ports in a bid to avoid delays. The attacks in the Red Sea are ongoing, meaning ships are still sailing around southern Africa, thereby not stopping at Middle Eastern ports.
Sales of shipping fuel in the city-state also fell in June, with consumption down 11% from a month earlier to 4.27 million tonnes, the MPA data showed.
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Source: TheEdge - 16 Jul 2024
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