High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
The number of major ship accidents in the Port of Singapore has fallen significantly over the last decade, with little over one major incident per one million vessel movements, the Maritime and Port Authority of Singapore reported Thursday.
The MPA defines major accidents as those involving loss of lives or pollution or those that affect safety of navigation in surrounding waters.
According to the MPA, the Port of Singapore had just .12 incidents per 100,000 vessel movements in 2018, down from 0.8 in 2009, representing a decrease of 85 percent.
The findings were released Thursday at the fourth International [email protected] Conference. The MPA credits, in part, the use of technology and digitization for the drop in number of accidents.
“I thank the maritime community for the good work in improving maritime safety. The use of technology and digitalisation can further enhance maritime safety by providing seafarers better access to critical safety-related information and early warning of potential incidents.” said Dr Lam Pin Min, Senior Minister of Singapore’s State for Transport and Health.
Join the 67,757 members that receive our newsletter.
Have a news tip? Let us know.