ASIA’S ADVANTAGE

  • Southeast Asia's 11 countries have a combined gross domestic product (GDP) of $1.9 trillion; a population of almost 600 million people; and an average per-capita income nearly equal to China's
  • Asia has also gained strong foothold in global fleet ownership, with 5 of the top 10 ship-owning countries are from Asia including Japan, China, Singapore, Korea and Hong Kong.
  • The rise of trade blocks within more regions may continue to promote intra-regional trade by 2030 with Asia taking the centre stage in the global seaborne trade.
  • The global shipping and offshore energy equipment industry has shifted unequivocally towards Asia. Asia will remain at the heart of the global shipbuilding industry for the foreseeable future.
  • Source: Inboundlogistics, Global Marine Trends 2030

SINGAPORE’S STRATEGIC LOCATION



  • Singapore’s maritime ecosystem comprises over 5,000 establishments employing more than 170,000 people, and contributing about seven per cent to the Republic’s gross domestic product.
  • Home to about 130 of the world’s top shipping groups, a rich diversity of maritime products and services can be found in Singapore. It is the ideal Asian gateway for global leaders in shipping finance, shipbroking, risk management and marine insurance.
  • Singapore is also fast becoming Asia’s hub for maritime law and arbitration and is one of the top global players in the offshore and marine engineering industry.
  • As a key gateway to business activities in Asia, Singapore presents opportunities for business transactions and networking with an established ecosystem of traders, shipping companies and maritime service providers.
  • Singapore has 70 per cent of the world market for jack-up rigs and 70 per cent of the global market for the conversion of Floating Production Storage Offloading units.
  • Within the industry, Singapore is undisputedly one of the front runners providing services in ship repairs and conversion, shipbuilding and offshore construction.
  • Source: IE Singapore, MPA

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