Singapore port to expand 40 percent by 2013
The world's busiest container port isn't quite ready to relinquish its crown.
The Port of Singapore, which just took over the mantle from the Port of Hong Kong, said over the weekend that it will spend $1.39 billion to add 16 berths to the port's Pasir Panjang terminal. The expansion would increase the port's capacity by an estimated 40 percent by 2013.
Singapore, which overwhelming handles transshipment cargo, is on pace to handle about 27 million TEUs in 2007, a more than 10 percent increase from 2006. Yet despite that huge volume and sizable growth, it is expected that the Port of Shanghai will overtake Singapore in 2008, as the Chinese port's Yangshan terminal grows apace. And it's not as thought Singapore isn't expanding already. An expansion plan currently underway at Pasir Panjang will see the port's capacity increase to about 35 million TEUs by 2009.
The expansion plans were first reported by the Singapore Straits Times over the weekend.
Singapore port to expand 40 percent by 2013
