The Port of Singapore has held held Business Times Singapore still world's busiest container transhipment port, with record 37.5m TEUs of throughput in 2021 Read more the crown of world’s busiest transshipment port by TEUs TEUs TEUs A TEU is a Twenty-foot Equivalent Unit, the measurement used to determine cargo capacity for container ships and terminals.
Why Singapore’s hi-tech maritime dream still isn’t shipshape
Singapore wants its shipping industry to be a highly-digitised, global maritime technology startup hub. But between startups looking for support, large corporations reluctant to change, and an ambitious government, the directions are still a bit unclear on the roadmap
Singapore’s shipping industry is a core sector for its economy—its port is world’s business transshipment port, handling 37.5 million TEU in 2021
But, the maritime industry is also old-school, relying on manual, legacy solutions to manage critical marine services
Things are evolving, but not fast enough. The government has given out a few millions in grants and set up accelerator programmes to incubate startups in the sector
But without outside support and a cross-functional partnership between the startups, corporations, and the government, it’ll be difficult to buck tradition