Singapore builds new container port

SINGAPORE: Singapore, the world’s second-busiest container port, has started building a harbour to double the island-city’s capacity to meet growing demand.

The first of a four-phase development of the deep-water port in the western part of Singapore started last Friday, the Maritime and Port Authority of Singapore said in a statement.

The initial stage would have 20 berths, with a capacity to handle 20 million 20-ft containers a year when completed, the government said.

Singapore is one of many countries in the region spending billions of dollars to add port capacity as trade within the continent expands at a faster pace than between Asia and Europe.

The project is also aimed at attracting a growing number of large vessels plying the Asia-Europe trade lane. The city-state is building the new port west of the current 1,000ha site, and the annual capacity is set to double to 65 million boxes over about three decades.

Reclamation of 294ha for the first phase is slated to be completed in the early 2020s, the government said.

A venture between South Korea’s Daelim Industrial Co and Dredging International Asia Pacific Pte is undertaking the initial development, which will also include dredging and the construction of the wharf structure.

Singapore will redevelop the current port region into the Southern Waterfront City by 2027 when leases for the terminals expire, the government has said.

The facility overlooks the Sentosa island, home to Genting Singapore Plc’s casino, Universal Studios Inc’s theme park and the world’s largest aquarium. – Bloomberg