Asia/Pacific News
Singapore Developing Maritime Master Plan to Guide Sector Growth
The Maritime and Port Authority of Singapore (MPA) is developing a Maritime Singapore Master Plan aimed at guiding the long-term growth of the country’s maritime sector, with the blueprint expected to be released in 2027.
The plan will outline strategies to strengthen Singapore’s competitiveness as a global hub port and enhance its appeal as an international maritime centre, the MPA said in a statement on its website on Wednesday.
It will also expand the country’s role in maritime technology, innovation and research.
MPA said it will engage businesses, industry stakeholders and the public in the coming months to gather feedback and shape the plan, alongside an industry panel of business leaders advising on opportunities and challenges.
The authority added that the initiative builds on the sector’s recent expansion, which has attracted more than 200 international shipping groups to Singapore and created around 2,000 professional jobs for locals over the past five years.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 658.50 | 18.00 | 1039.50 | 72.00 |
| Rotterdam | 607.00 | 33.50 | 985.50 | 41.00 |
| Houston | 589.00 | 10.00 | 946.50 | 23.50 |
| Fujairah | 672.50 | 43.50 | 1105.00 | 60.50 |
| APAC Average | 700.50 | 49.50 | 997.50 | 75.00 |
| Global 20 Ports Average | 659.00 | 30.00 | 1029.00 | 47.50 |
| Global 4 Ports Average | 631.50 | 26.00 | 1019.00 | 49.00 |
| Global Average Bunker Price | 671.00 | 36.00 | 996.50 | 48.00 |
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