Are the US and UK holding back Singaporean freight? - CILT(UK)
Search
Search
You are here: Home > News > Latest News

 

What’s on your career development plan

 


 

 


LATEST NEWS

Are the US and UK holding back Singaporean freight?

14 August 2013/Categories: Industry News


The freight transport sector in the US, UK and eurozone has been struggling of late, with the number of shipments being made by air, road and sea falling steadily each month.


Although other parts of the world - including Asia - are performing better, it seems the lack of activity in the aforementioned three regions is hampering progress.


A new study by Fast Market Research showed that Singapore's freight industry is growing, but it is being dragged back by the US, UK and Europe - all of which are key markets.


Indeed, the report suggested that air cargo tonnage through the nation's Changi International Airport is expected to grow by 1.3 per cent in 2013 and should expand by a similar amount annually until 2017.


However, the Port of Singapore's gross tonnage will contract by six per cent this year, which is a significant blow. Activity at the port is predicted to increase by a modest 0.8 per cent per year from 2014 onwards.


Overall trade should grow by 4.2 per cent by 2017, but experts cannot help but think what this figure might have been if key global markets were performing more solidly.

Print

Number of views (1866)

Tags:

Theme picker

Registered Office:

Earlstrees Court, Earlstrees Road, Corby
Northants, NN17 4AX
Main Switchboard: 01536 740100

Company Registration Number: 2629347 
(A Company Limited by Guarantee)
Charity Registration Number: 1004963

© The Chartered Institute of Logistics and Transport