Business

Singapore remains world’s busiest transhipment and bunkering port in 2021

Bunker sales remained strong crossing 50 million mt for only the second time, while Singapore closes 2021 with record container throughput of 37.5 million TEUs.

Published

5 years ago

January 13, 2022

Admin

The Port of Singapore remained open and connected to the world in 2021 despite the ongoing COVID-19 pandemic, according to a on Thursday (13 January) statement from the Maritime and Port Authority of Singapore (MPA).

Singapore’s port performance saw a record high container throughput of 37.5 million twenty-foot equivalent units (TEUs). Bunker sales also remained strong, crossing 50 million tonnes for only the second time.

Singapore has also been ranked the top Leading Maritime City of the World for a fifth consecutive time in the international benchmarking study by Norwegian classification society, DNV; and Norwegian consultancy, Menon Economics AS.

“This is a strong testament of Singapore’s performance in not only the port sector, but also as an international maritime centre in shipping services and maritime technology,” said MPA in a statement.

Mr S. Iswaran, Minister for Transport and Minister-in-charge of Trade Relations, announced the 2021 performance of the Port of Singapore at the Singapore Maritime Foundation New Year Conversations 2022 event on Thursday.

He also outlined the four thrusts – resilience, digitalisation, decarbonisation and talent – that will guide the government’s efforts to advance the maritime sector and consultations with the industry and unions on the refreshed Sea Transport Industry Transformation Map.

“Maritime Singapore has shown itself to be resilient despite the challenges of the pandemic over the past two years. I am confident that the continued strong tripartite partnership between the Government, industry and unions will see us through the recovery phase and allow Maritime Singapore to emerge even stronger,” said Minister Iswaran.

Strong Bunker Sales in 2021

Singapore also kept its position as the top bunkering port, registering total bunker sales volume of 50.04 million tonnes in 2021. This comprised 49.99 million tonnes in conventional bunkers sales and 0.05 million tonnes in LNG2 bunker sales. Singapore commenced regular ship-to-ship LNG bunkering operations from March 2021 and will continue to diversify our fuel offerings in line with our push for maritime decarbonisation.

Record-high Container Throughput; Cargo Throughput and Vessel Arrival Tonnage Remained Resilient

Singapore remains the world’s busiest container transhipment port, handling a record high of 37.5 million TEUs of container throughput in 2021. In total, Singapore handled 599.0 million tonnes of cargo in 2021. Vessel arrival reached 2.81 billion gross tonnage (GT).

Singapore Registry of Ships amongst Top Registries

The Singapore Registry of Ships continued to rank amongst top ship registries globally, reflecting Singapore’s reputation as a quality flag of choice for international ship owners. The total tonnage of ships under the Singapore flag stood at 92.3 million GT, as of December 2021.

Details of Singapore’s maritime performance from 2012 to 2021 are listed below:

Year	Vessel Arrival Tonnage (billion GT)	Container Throughput (million TEUs)	Cargo Throughput (million tonnes)	Bunker Sale Volume (million tonnes)	Tonnage under Singapore Registry of Ships (million GT)
2021	2.81	37.5	599.0	50.0	92.3
2020	2.90	36.9	590.7	49.8	95.0
2019	2.85	37.2	626.5	47.5	97.3
2018	2.79	36.6	630.1	49.8	90.0
2017	2.80	33.7	627.7	50.6	88.8
2016	2.66	30.9	593.3	48.6	88.0
2015	2.50	30.9	575.8	45.2	86.3
2014	2.37	30.9	581.3	42.4	82.2
2013	2.33	32.6	560.9	42.7	73.6
2012	2.25	31.6	538.0	42.7	65.0

Photo credit: Manifold Times
Published: 14 January, 2022

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

7 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

7 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

7 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026