News
The Port of Singapore is seeing a cargo growth of 7.9% to 509.71 million tons this year, as world trade recovers and growth in 2011 will be at a more moderate rate of 4.4%, according to a report published by Research and Market.
The port will remain the world's largest container port, with box traffic, which slumped by 13.5% last year, recovering by 7.6% in 2010 to 27.831 million TEUs. Expansion in 2011 will be 5.3%. The medium-term outlook both for general and container cargo is for moderate growth in the 3-5% per annum range, the report said.
Singapore's total trade will expand by 11.4% this year, following an 11.6% contraction in 2009. Average annual trade growth in the next five years will be 6.5%, a little ahead of GDP, the report added.
