Regions for Port and Maritime Consultancy ~ Singapore

Singapore featured highly in a report we completed on maritime services in 2005, and we are grateful to MPA Singapore for their update on legislative amendments to Singapore's Legal Profession Act, which arguably strengthens Singapore's potential as a fast-rising centre for maritime services - DOWNLOAD MPA UPDATE.

You can find out more here about the Singapore maritime and logistics clusters, development of which form important components of the national economic development plan.

Maritime Cluster

Everyone knows that the port of Singapore is one of the largest ports in the world. The maritime sector is further enhanced by the facilities and services that support this - notably ship-repair and bunker services.

Our work in the international maritime services sector also shows that Singapore is one of the world's key emerging centres for maritime services such as shipbroking, marine insurance, arbitration etc. DOWNLOAD A COPY OF THE REPORT Its agile policy and funding environment has enabled it to position itself as an emerging alternative to London, with the advantage of being located in the dynamic SE Asia  / Far East region.

According to the website of the Maritime and Port Authority of Singapore, the maritime industry in Singapore contributes about 7% to Singapore's GDP and provides jobs for some 100,000 workers. The industry is forecasted to expand between 6% and 9% over the medium term.

The MPA champions and drives Singapore’s ongoing development as an international maritime centre.  It facilitates attractive maritime cluster programmes including a S$100 million Maritime Innovation and Technology (MINT) Fund which aims to jumpstart maritime R&D through academia-industry interaction and promoting R&D entrepreneurship.

An S$80 million Maritime Cluster Fund (MCF) was set up in 2002 to help promote and strengthen the maritime cluster, with S$50 million set aside to enhance maritime manpower development as well as to develop local training infrastructure and capabilities.

Logistics Cluster

The aim is to use technologies and services to transform air, sea and land-based carriers into efficient channels connecting companies with the global economy:

• Singapore's aviation industry, made up of a critical mass of world-class players, offers excellent air connectivity, one-stop aerospace repair and overhaul services and aviation-related services, as well as component and system manufacturing.
• At the crossroads of international shipping routes, Singapore continues to bustle as a maritime hub. Singapore is also a leading player in the global shipbuilding and repair markets and home to key oil & gas infrastructure and equipment companies.
• In the land transport sector, Singapore hosts several regional headquarters for automotive companies, as well as development and manufacturing operations for high-value components. Efforts in R&D and test bedding include emerging transport technologies such as intelligent transport systems and alternative energy.

Singapore seeks development of its logistics cluster through planning and aggressive marketing to attract multi national manufacturers and third party 3PLs.

In 2001, the Economic Development Board reported that there were 8,650 companies in the total logistics services cluster, employing 113,000 people, with operating receipts of S$ 39.2 million.

Singapore anticipates a four-fold increase in logistics outsourcing activities by 2012 reaching a value of US$80 billion. It believes that Asia's logistics and supply chain management industry, which is seeing rapidly-increasing volumes, has immense potential for further growth in market size. It forecasts 15% pa growth, outstripping the 10 % compound annual growth rate.