Port of Singapore volumes inch up in May

Container cargo throughput at the Port of Singapore grew 1.6 percent to 2.67 million TEUs compared to May 2015, the first year-over-year growth in over a year.    Container cargo volumes at the Port of Singapore grew 1.6 percent to 2.67 million TEUs in May 2016 compared with the same month a year ago, according to recent data from the Maritime and Port Authority.
   The May container throughput figures represented a 5.4 percent increase from April and the first year-over-year growth in 15 months.
   MPA said total cargo volumes were also up during the month, growing 7.7 percent from May 2015 to 52.23 million metric tons, 1.9 percent higher than the previous month.
   Based on preliminary May estimates, container cargo volumes in the first five months of 2016 are down 5.96 percent compared with the same 2015 period. Total throughput at the Port of Singapore is up 0.9 percent year-over-year to 245.69 million metric tons.