S'pore port prepares for Asian trade boom
S'pore port prepares for Asian trade boom
SINGAPORE (AFP): The Port of Singapore Authority (PSA) completed the construction of two new berths yesterday as it moves to double its container-handling capacity to cope with a rapid rise in Asian traffic.
Container throughput in the region is expected to double by the year 2000 to reach some 120 million TEUs (twenty-foot- equivalent units), Communications Minister Mah Bow Tan said in a speech on the occasion.
The region's current share of the world container throughput is about 48 percent and expected to increase to nearly 55 percent by then, he said, adding that Southeast Asia alone was expected to handle 20 percent of the increase.
Countries in Southeast Asia, including Malaysia, Thailand and Indonesia, are developing and upgrading their ports to take advantage of the boom in port business and to handle additional container volumes.
"Like these other countries, Singapore is confident about the prospects of the container business," Mah said.
"That is why we embarked on building the new container terminal, which when completed will have the capacity to handle 36 million TEUs, more than twice the existing capacity of PSA," the minister said.
The PSA is the world's second busiest port for container traffic after Hong Kong, serving as a transshipment hub between Southeast Asia and the rest of the world.
The two berths completed yesterday are the first of 26 to be built in the initial phase of development of the new container terminal.
Mah said the new terminal would be equipped with the latest facilities, including a fleet of new-generation remote-controlled cranes which can handle the largest ships in the world.
"Better technology in every aspect of the port operations at the new terminal will expedite operations with high accuracy and reduced manpower requirements," Mah said.
He said increased reliability, shorter servicing time and faster ship turnaround would lead to cost savings that would be passed on to customers.