Operations
The port is the world's busiest port in terms of shipping tonnage handled, with 1.15 billion gross tons (GT) handled in 2005. In terms of cargo tonnage, Singapore is behind Shanghai with 423 million freight tons handled. The port retains its position as the world's busiest hub for transshipment traffic in 2005, and is also the world's biggest bunkering hub, with 25 million tonnes sold in the same year.
Singapore is ranked first globally in 2005 in terms of containerised traffic, with 23.2 million Twenty-foot equivalent units (TEUs) handled. High growth in containerised traffic has seen the port overtaking Hong Kong since the first quarter of 2005, and has led the race ever since, with an estimated 19,335 TEUs handled in the year up to October, compared to 18,640 TEUs handled in Hong Kong in the same period. A rise in regional traffic consolidating the port's position in Southeast Asia, and increases in transshipment traffic using the strategic East Asia-Europe route via Singapore helped the port to emerge tops at the end of the year, a title it had not held since overtaking Hong Kong once in 1998.
Singapore port played vital role in emerging economy.
Read more about this topic: Port Of Singapore
Famous quotes containing the word operations:
“Plot, rules, nor even poetry, are not half so great beauties in tragedy or comedy as a just imitation of nature, of character, of the passions and their operations in diversified situations.”
—Horace Walpole (1717–1797)
“There is a patent office at the seat of government of the universe, whose managers are as much interested in the dispersion of seeds as anybody at Washington can be, and their operations are infinitely more extensive and regular.”
—Henry David Thoreau (1817–1862)
“It may seem strange that any road through such a wilderness should be passable, even in winter, when the snow is three or four feet deep, but at that season, wherever lumbering operations are actively carried on, teams are continually passing on the single track, and it becomes as smooth almost as a railway.”
—Henry David Thoreau (1817–1862)