Asia/Pacific News
MPA CEO: "Reinvention" the Key to Port of Singapore's Long Term Growth
Andrew Tan, CEO of the Maritime and Port Authority of Singapore (MPA) says the key to the port's continued long term survival and growth is "a continuous process of invention and reinvention," Singapore media reports.
While Singapore has grown into the world's biggest bunkering port - selling 45.2 million metric tonnes (mt) in 2015 compared to just 16.9 million mt in 1996 - Tan says that the ailing maritime and offshore sector require that some "very difficult" adjustments be made in order to maintain the port's position.
"We're hoping that the companies will be able to turn around, go into new areas or businesses. We can't just wring our hands in despair. We have to take advantage of this downturn to look at what we can do when the upturn comes," said Tan.
"The key here is that the clock doesn't stop for us. It is a continuous process of invention and reinvention. It is hard for us to predict how the industry will change, but with each shift there is, we want to make sure that we are part of that narrative."
An example of being ready for such change is with the steady move towards liquefied natural gas (LNG) bunkers, and as Ship & Bunker has previously reported, MPA has taken a number of steps toward encouraging the adoption of LNG as a marine fuel, including the port's LNG bunkering pilot programme, which is set to launch in 2017.
Trends within the maritime sector, such as the move toward mega alliances calling at specific ports, as well as the deployment of mega vessels, need to be anticipated and responded to in order to maintain the port's position relative to others, explains Tan.
"We are looking at other ways to entrench our role and relevance, such as servicing the mega alliances, expanding the maritime cluster, and offering the widest range of maritime and port services," said Tan.
"There is no lack of aspiration on the part of our neighbours to handle these large vessels. So if you are not building a port that can handle these ships, you will lose out. You will be bypassed."
As Ship & Bunker has previously reported, Singapore's expansion plans include an expansion project on the Pasir Panjang Terminal, which is slated for completion next year, as well as a new mega port in Tuas.
