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SMW 2022: Singapore Sea Transport Industry Transformation Map launched

05 Apr 2022

Singapore’s Sea Transport Industry Transformation Map (ITM) 2025 was launched on Monday (4 April) at the Singapore Maritime Week (SMW) 2022.

First launched in 2018 by the Maritime and Port Authority of Singapore (MPA) in partnership with industry, unions, and other government agencies, the Sea Transport ITM builds on MPA’s strategic long-term plans to develop Singapore’s Next-Generation Port while strengthening its International Maritime Centre (IMC).

The latest Sea Transport ITM has been refreshed to update strategies to address current challenges and seize new opportunities from the COVID-19 pandemic and shifts in global supply chains.

A key aim of the ITM is to grow the sector’s value-add by $2 billion, or an average rate of 2-3% annually, between 2020 and 2025.

Update on the Progress of the First Sea Transport ITM (launched in 2018)

In the years following the launch of the Sea Transport ITM in 2018, the sector has made significant progress. Pasir Panjang Terminal Phases 3 & 4 were fully operationalised, adding an additional 15 million twenty-foot equivalent units (TEUs) handling capacity to the Port of Singapore.

To drive digitalisation and enhance productivity, MPA launched Phase 1 of digitalPORT@SG™ to streamline up to 16 regulatory applications into an integrated port clearance service, and the Sea Transport Industry Digitalisation Plan (IDP) for small and medium (SMEs) enterprises to adopt digital technologies.

The launch of the Maritime Transformation Programme has deepened maritime research and development (R&D) capabilities in niche technology areas, e.g. in maritime energy and sustainability, simulation and modelling of future port operations, and development of autonomous ships. To support the maritime workforce, the Professional Conversion Programme (Sea Transport) was launched and trained 160 mid-careerists to join the sector.

Despite the COVID-19 pandemic and the current geopolitical uncertainties, the Sea Transport sector has remained resilient. In 2021, the republic’s IMC attracted 23 companies to expand or set up operations in Singapore, and Singapore’s container throughput achieved a record 37.5 million TEUs, an increase from 36.9 million TEUs in 2020.

Strategies of the Sea Transport ITM 2025

Going forward, the Sea Transport sector is poised to see major transformation given opportunities arising from global supply chain shifts, digitalisation and decarbonisation. The Sea Transport ITM 2025 will focus on the following four strategies, elaborated in the subsequent paragraphs (and with key targets underlined):

Strategy 1: Ensure Relevance and Resilience of MaritimeSG as Key Node in Global Supply Chains
Strategy 2: Build a Vibrant Innovation Ecosystem and Actively Develop New Growth Areas
Strategy 3: Support Maritime SMEs and Start-ups to Grow into Global Champions
Strategy 4: Develop a Future-Ready Maritime Workforce Equipped with Global Skillsets

Related: SMW 2022: Event officially opens with ‘Transformation for Growth’ theme
Related: SMW 2022: MOT and MPA establish Maritime International Advisory Panel
Related: Singapore Maritime Week 2022 returns with ‘Transformation for Growth’ theme

 

Photo credit: CHUTTERSNAP on Unsplash
Published: 5 April, 2022

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