New Market Study Published: Singapore Freight Transport Report Q3 2013

From: Fast Market Research, Inc.
Published: Thu Aug 08 2013

The city-state of 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 2013, we forecast that the port's total tonnage volumes will undergo a painful contraction, though air freight volumes are expected to remain positive.

Headline Industry Data

* 2013 air freight tonnage through Changi International Airport to grow 1.3%. Growth over our forecast period (2013-2017) to average 1.3% per annum.
* The Port of Singapore's gross tonnage will contract by 6.0% in 2013, with average annual growth at 0.8% during our forecast period.
* The country's overall trade will grow by 3.5% in real terms in 2013, to average 4.2% to 2017.

Key Industry Trends

Kerry Logistics Opens New Four-Storey Facility: Hong Kong-based Kerry Logistics has expanded its operations with the inauguration of a new Asian regional logistics hub and regional headquarters in Singapore. The hub will serve as the base for the company's operations in South East Asia.

Full Report Details at

Changi Airport Registers Increase In Air Freight Volumes: Singapore's Changi Airport registered a 2.5% year-on-year (y-o-y) increase in air freight volumes, to 167,200 metric tonnes of cargo in March. However, the airport recorded a 2.2% y-o-y drop in cargo freight volume, to 434,000 metric tonnes in January-March.

New LNG Terminal Begins Commercial Operations: A new LNG terminal in Singapore successfully began commercial operations on May 7. The new LNG terminal has also taken the delivery of its first commercial cargo from BG Group. The terminal operator, Singapore LNG Corporation, said that the construction of the terminal was started in 2010 along with the first two tanks with regasification facilities now concluded on schedule and within budget.

Key Risks To Outlook

We continue to believe that the main risk for Singapore's freight transport sector lies on the downside. This dynamic city-state economy depends critically on its US, eurozone, and mainland China export markets, and each of those three faces varying degrees of downside economic risks. Further, the country's Port of Singapore and Changi Airport both handle huge volumes of 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.

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You may also be interested in these related reports:

- Russia Freight Transport Report Q3 2013
- Hong Kong Freight Transport Report Q3 2013
- Australia Freight Transport Report Q3 2013
- Hungary Freight Transport Report Q3 2013
- Vietnam Freight Transport Report Q3 2013

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Contact Name: Bill Thompson
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