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 international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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