Singapore's maritime industry achieved record highs across several key metrics in 2024, according to the Maritime and Port Authority of Singapore (MPA).
Singapore's port achieved new highs in annual vessel arrival tonnage (3.11 billion GT) and total tonnage of ships under the Singapore flag (108 million GT). Cargo t
Cargo handled at the port increased by 5.2% to 622.67 million tonnes. Container throughput surpassed the 40 million TEU mark for the first time, reaching 41.12 million TEU, a 5.4% increase. Singapore remains the world's largest container transshipment hub.
Total bunker sales reached a new high of 54.92 million tonnes, reflecting a 6.0% year-on-year rise. Sales of alternative bunker fuels surpassed one million tonnes for the first time, reaching 1.34 million tonnes in 2024.
MPA implemented measures to streamline regulations, including reducing the verification frequency of mass flow meters, which is expected to save the industry approximately S$300,000 annually.
The number of start-ups under the Port Innovation Ecosystem Reimagined @BLOCK71 program has grown significantly, from 17 in 2018 to over 140 today.
Singapore became the first port to implement digital bunkering at scale, with the issuance of electronic bunker delivery notes becoming mandatory from April 1, 2025.
The world's first use of ammonia-fueled bunkering occurred in Singapore in 2024. Additionally, Singapore is developing standards for ammonia and methanol bunkering.
Despite potential geopolitical and trade disruptions, global seaborne trade is projected to grow 1.9% in 2025.
MPA was established on 2 February 1996 with the mission to develop Singapore as a premier global hub port and international maritime centre, and to advance and safeguard Singapore’s strategic maritime interests. MPA is the driving force behind Singapore’s maritime and port development, taking on the roles of maritime and port regulator and planner, international maritime centre champion, national maritime representative, and a champion of digitalisation and decarbonisation efforts at regional and international fora such as at the International Maritime Organization and the International Organization for Marine Aids to Navigation. MPA is responsible for the overall development and growth of the maritime multi-domain and the Port of Singapore.