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The port of Singapore has been voted as Asia’s Best Seaport defeating other finalists like Shanghai and Hong Kong, according to a news release from the authorities.
This is the 27th time the republic’s port has been voted for the prestigious award.
It clinched the accolade at the 2015 Asia Freight, Logistics and Supply Chain Awards (AFLAS) held in Hong Kong on 24 June 2015, with the Maritime and Port Authority of Singapore (MPA) receiving the trophy.
Organised by Asia Cargo News, the winners at the AFLAS awards were chosen by the publication’s readers based on a range of criteria.
The port of Singapore was voted best for to its leading performance on several parameters, including cost competitiveness, container shipping-friendly fee regime, provision of suitable container shipping-related infrastructure, timely and adequate investment in new infrastructure to meet future demand and the facilitation of ancillary services.
“Singapore will also continue to plan and invest ahead, such as our commissioning of Pasir Panjang Terminal Phases 3 and 4 this week which will increase the overall capacity of Singapore’s port to 50 million Twenty-Foot Equivalent Units (TEUs) when fully operational,” said MPA Chief Executive Officer Andrew Tan.
The S$3.5 billion expansion project in the port was launched by Singapore Prime Minister Lee Hsien Loong on Tuesday (23 June) in a bid to cement the country’s position as a leading global shipping hub. Phases 3 and 4 are scheduled to be fully operational by end-2017.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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