The combination of global hub port and International Maritime Centre forms a unique value proposition for Maritime Singapore. Looking ahead, we will continue to strengthen these twin engines so as to remain reliable, resilient, and ready for the future.
The development of Tuas Port is key to our plans to stay ahead as the world’s premier global hub and assure our international partners and shipping lines of Singapore’s ability to meet the demands of the future. Tuas Port was officially opened in September 2022, with three operational berths.
When fully completed in the 2040s, Tuas Port will consolidate our container port operations in a single location and will be able to handle up to 65 million TEUs per annum. This is almost double the volume of containers that the Port of Singapore handles today. Tuas Port will be a sustainable port, and be able to provide for the increasingly complex cargo operations of the future by providing world-class efficiency and reliability by leveraging technology and automation. We are also strengthening physical and digital linkages with adjacent sectors to improve supply chain resilience.
Our vision is for Singapore to be a maritime hub with unparalleled connectivity, vibrant innovation, and future-ready maritime talent. We will continue to develop and enhance our ecosystem of professional and global maritime services, including marine insurance, maritime legal and arbitration, shipbroking, and shipping finance.
The maritime industry and its venture capital partners are investing heavily in technological solutions to a range of challenges, from improving maritime safety to trialling low- and zero-carbon marine fuels. For example, the Singapore Maritime Institute, established in 2011, works with a network of four Centres of Excellence to drive developments in maritime technology (MarineTech), grow the capabilities of research institutes in Singapore, and foster research collaborations with industry. The Maritime and Port Authority of Singapore (MPA) and NUS Enterprise collaborate with industry and research partners through the Port Innovation Ecosystem Reimagined at BLOCK71 (PIER71) programme to develop the maritime start-up ecosystem.
Maritime R&D initiatives are co-funded through the $265 million Maritime Innovation and Technology (MINT) Fund. Maritime R&D agreements have been signed both locally and overseas with various research institutions for collaborative projects. The National Research Foundation has also approved a $50 million Grant to support the Maritime Transformation Programme, which augments MPA’s ongoing R&D efforts as part of the Sea Transport Industry Transformation Map.
The imperative to grow our port, and develop our International Maritime Centre, must be accompanied by efforts to protect the marine environment and tackle climate change. Learn how we are doing our part for an environmentally sustainable Maritime Singapore.