Singapore starts building S$500-M cruise terminal
Singapore has began work on a S$500 million ($353 million) terminal building that will double the island’s cruise berthing capacity and boost the number of tourists arriving by sea.
The 28,000-square-meter facility will increase cruise berthing capacity to four from two, Margaret Teo, assistant chief executive officer for development at the Singapore Tourism Board, said.
Singapore wants to become the cruise hub for Asia, where more than half the world’s population resides and economies are starting to emerge from the worst recession in half a century. Asia Pacific accounts for about 7 percent of the world’s cruise market, according to the city’s tourism board.
“Over the past three decades, global cruise arrivals have grown twice as fast as the world’s overall tourist arrivals,” Trade Minister Lim Hng Kiang said.
The terminal, located about five minutes from the downtown area, complements Singapore’s plan to develop Marina Bay, where Las Vegas Sands Corp. is building a casino resort. The facility is scheduled to be completed by the end of 2011 and will be able to accommodate the world’s largest cruise ships.
The Singapore Tourism Board, which expects to receive as many as 1.6 million cruise passengers by 2015, is currently looking for an operator for the terminal, according to Teo. The island-state received 920,000 cruise passengers last year.
The 28,000-square-meter facility will increase cruise berthing capacity to four from two, Margaret Teo, assistant chief executive officer for development at the Singapore Tourism Board, said.
Singapore wants to become the cruise hub for Asia, where more than half the world’s population resides and economies are starting to emerge from the worst recession in half a century. Asia Pacific accounts for about 7 percent of the world’s cruise market, according to the city’s tourism board.
“Over the past three decades, global cruise arrivals have grown twice as fast as the world’s overall tourist arrivals,” Trade Minister Lim Hng Kiang said.
The terminal, located about five minutes from the downtown area, complements Singapore’s plan to develop Marina Bay, where Las Vegas Sands Corp. is building a casino resort. The facility is scheduled to be completed by the end of 2011 and will be able to accommodate the world’s largest cruise ships.
The Singapore Tourism Board, which expects to receive as many as 1.6 million cruise passengers by 2015, is currently looking for an operator for the terminal, according to Teo. The island-state received 920,000 cruise passengers last year.