Singapore port's container throughput has finally turned into positive year-on-year figures, posting a 1.7 per cent rise to 2.33 million twenty-foot equivalent units (TEUs) in November from 2.29 million TEUs in the previous corresponding period.
However this is probably due less to an actual improvement in volumes than the fact that the dropoff in volumes had started to hit the figures by the same time last year.
And although the month-on-month figures continue to show a recovery, rising from 2.31 million TEUs in October, the full-year numbers definitely look set to come in significantly lower than last year's 29.9 million TEUs and if the trend remains consistent may even drop back to 2006 levels.
Dominant port operator PSA also saw year-on-year throughput rise from 2.21 million TEUs in November last year to 2.25 million TEUs. Month-on-month, there was also a slight increase from 2.24 million TEUs in October.
Year-to-date however, the throughput of 22.92 million TEUs till November this year was a 14.6 per cent drop from the 26.86 million TEUs moved up to the same point the year before.
At smaller operator Jurong Port, volumes also saw some recovery, rising 4.2 per cent from October to 75,000 TEUs in November. However the year-on-year figure was still 7.4 per cent lower than the 81,000 TEUs throughput seen in November the year before.
In a worrying sign for the shipping industry at large however, bunker sales in November plunged 7.7 per cent to 2.88 million tonnes from 3.12 million tonnes sold in October.
This, however, matches the figure from last November and may suggest that the bunker market is returning to normalcy from the high sales levels seen in the past few months.
Reuters quoted traders as saying that the month-on-month fall is largely due to higher bunker prices, in line with stronger average crude benchmarks in November, and a slight fall in the number of vessels arriving in Singapore
However this is probably due less to an actual improvement in volumes than the fact that the dropoff in volumes had started to hit the figures by the same time last year.
And although the month-on-month figures continue to show a recovery, rising from 2.31 million TEUs in October, the full-year numbers definitely look set to come in significantly lower than last year's 29.9 million TEUs and if the trend remains consistent may even drop back to 2006 levels.
Dominant port operator PSA also saw year-on-year throughput rise from 2.21 million TEUs in November last year to 2.25 million TEUs. Month-on-month, there was also a slight increase from 2.24 million TEUs in October.
Year-to-date however, the throughput of 22.92 million TEUs till November this year was a 14.6 per cent drop from the 26.86 million TEUs moved up to the same point the year before.
At smaller operator Jurong Port, volumes also saw some recovery, rising 4.2 per cent from October to 75,000 TEUs in November. However the year-on-year figure was still 7.4 per cent lower than the 81,000 TEUs throughput seen in November the year before.
In a worrying sign for the shipping industry at large however, bunker sales in November plunged 7.7 per cent to 2.88 million tonnes from 3.12 million tonnes sold in October.
This, however, matches the figure from last November and may suggest that the bunker market is returning to normalcy from the high sales levels seen in the past few months.
Reuters quoted traders as saying that the month-on-month fall is largely due to higher bunker prices, in line with stronger average crude benchmarks in November, and a slight fall in the number of vessels arriving in Singapore