Recently released market study: Singapore Freight Transport Report Q1 2014

From: Fast Market Research, Inc.
Published: Wed Jan 15 2014


Singapore's role as a global transhipment hub is both its blessing and its curse. In times such as these, when key markets in Europe and the US are either recessionary or growing sluggishly, it can be hit by depleted freight volumes. In 2014 we forecast growth in both port and airport total tonnage volumes. Both facilities are investing considerably, and we are confident of growth over the medium and long term.

Headline Industry Data

* 2014 air freight tonnage through Changi International Airport to grow 1.1% after a 1.8% contraction in 2013. Growth over our forecast period (2014-2018) to average 1.2% a year.
* The port of Singapore's gross tonnage will grow by 3.2% in 2014, with average annual growth at 3.2% during our forecast period.
* The country's overall trade will grow by 3.4% in real terms in 2014, to average 4.1% to 2018.

Full Report Details at
- http://www.fastmr.com/prod/759137_singapore_freight_transport_report_q1_2014.aspx?afid=301

Key Industry Trends

Singapore Reveals US$8bn Expansion Plans: The government intends to invest SGD8.8mn (US$7mn) in expanding the capacity of its container port this fiscal year. The project, which is part of Prime Minister Lee Hsien Loong's push for an economic and popular revival, comes as the Port of Shanghai overtook Singapore to become the world's busiest port.

Cargo Handling Drops 2.5% At Changi Airport: Changi registered a 2.5% year-on-year (y-o-y) decline in cargo handling to 152,800 tonnes of freight in September 2013. Air cargo shipments at the air port climbed 0.7% y-o-y to 1.4mn tonnes in January-September.

CEVA To Open Logistics Centre: Global company CEVA Logistics intends to open its first Centre of Logistics Excellence in the Asia Pacific region at Changi. The centre will improve supply chain efficiency in Asia through optimisation and enhanced visibility, integrated services and technological solutions.

Key Risks To Outlook

We continue to believe that the main risk for Singapore's freight transport sector lies on the downside. This dynamic economy depends on the export markets of the US, eurozone, and mainland China, and each of those three faces varying degrees of downside economic risks. Further, the port of Singapore and Changi Airport both handle huge transhipment volumes, which could be affected should the global economy slump once more.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Vietnam Freight Transport Report Q1 2014
- Australia Freight Transport Report Q1 2014
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- Brazil Freight Transport Report Q1 2014

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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