S'pore port facing slump

S'pore port facing slump

SINGAPORE (DPA): Singapore's share of regional container
volume is expected to shrink by more than 15 per cent by 2015
amid rising competition from other ports, a maritime
consultancy's forecast said on Thursday.

The U.K.-based Ocean Shipping Consultants (OSC) latest report
said Singapore is still likely to remain Southeast Asia's
principal container hub.

"With direct calls now more common at other regional ports
such as Klang and Laem Chabang and further inroads into both
direct and transshipment traffic expected, Singapore's share of
regional throughput can be expected" to decline, the consultancy
said.

"The port will also face increasing price competition, as
other facilities, notably Tangung Pelepas in Malaysia, are
established and expanded," it said.

It noted "the full impact of the loss of Maerski Sealand's
traffic to Tanjung Pelepas" will be felt by Singapore this year.

The world's largest container line last year terminated a 10-
year agreement it had with the Port of Singapore Authority (PSA)
Corporation.