Singapore highly regarded as logistics hub

psa-terminal-in-singapore

Singapore continues to be highly regarded as a logistics hub and there are several factors reflecting this, said Transport Minister Lui Tuck Yew.

Speaking at an international event organised by the logistics sector, Mr Lui noted that Singapore ranked first for efficiency of customs clearance, and for timeliness of shipments delivered.

This was stated in the Logistics Performance Index 2012 published by the World Bank.

In addition, the World Bank also ranked Singapore first for the ease of trading across borders in its Doing Business report for six consecutive years from 2008 to 2013.

Mr Lui said: “The ranking examines key customs indicators such as the time, cost and number of documents required for export and import in which Singapore has remained consistently competitive.

“For example, the time taken to import and export goods in Singapore is four to five days. This compares favourably with the time taken to import and export goods in East Asia Pacific and OECD, which are 21 to 22 days and 10 days respectively.”

Mr Lui added that beyond raising productivity and efficiency, Singapore is also planning and investing ahead to ensure the country remains an attractive and competitive logistics hub in the long term.

He also outlined longer-term plans to make further improvements.

In the aviation sector, plans are already underway to strengthen infrastructure, expand capacity and enhance connectivity to meet future demand, especially by 2018 when Changi Airport’s handling capacity will be able to accommodate up to 85 million passengers a year.

Similarly, in the maritime sector, Singapore is preparing for the future and is investing in infrastructure ahead of demand to strengthen the hub port.

For example, Pasir Panjang Terminal is set to increase the port’s container handling capacity to 50 million containers or TEUs per annum by 2020 — up from 34 million now.

In the longer term, Singapore plans to build a new container port in Tuas, at the western end of Singapore, which will be more efficient and double today’s handling capacity to 65 million TEUs.

 

 

 

 

Source : Channel News Asia | October 16, 2013

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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