Singapore Maritime Opportunities

Singapore’s maritime sector and the future construction of the Tuas Port creates unparalleled opportunities for U.S. companies. As the world’s second-busiest container port and the leading bunkering port as of 2023, Singapore is a gateway to high-growth maritime markets, making it an essential destination for U.S. businesses in shipping, logistics, port technologies, and maritime services.

With over 170 international shipping groups operating across container, bulk, tanker, offshore, and LNG sectors, Singapore provides a comprehensive maritime ecosystem, supporting additional maritime services such as finance, broking, insurance, legal, and arbitration. The country is home to more than 5,000 maritime entities and boasts over 4,400 vessels registered under the Singapore Registry of Ships. The maritime sector contributes to more than 6% of Singapore’s GDP, supporting approximately 140,000 jobs.

In 2024, Singapore’s port handled a record of over 40 million shipping containers, surpassing 2023’s record of 39.01 million twenty-foot equivalent units (TEUs). Every year, 130,000 vessels pass through its ports and at any given time, there are about 1,000 vessels in Singapore’s waters.

Singapore’s future port, Tuas Port, is under construction and will be the world’s largest container port once completed by the 2040s, handling up to 65 million TEUs annually. Tuas Port will replace existing city terminals, reducing haulage and greenhouse gas emissions. Tuas Port will use cutting-edge technology, like Digitalport@SG and Just-in-Time (JIT) systems, to improve efficiency and reduce ship turnaround times. Operations will feature automation with remote control systems, Automated Guided Vehicles (AGVs), robotic cranes, and advanced storage to increase capacity making it the world’s largest automated port. The Ministry of Transport is also collaborating on an autonomous truck system to meet rising demand for container haulage across terminals.

The development of Tuas Port represents a significant opportunity for U.S. companies specializing in port automation, digital logistics, and sustainable maritime solutions. U.S. companies interested in exploring related opportunities for the Tuas Port can visit GeBIZ (Government Electronic Business), Singapore’s one-stop electronic business portal for contractors and suppliers to find and respond to government procurement opportunities, including tenders and quotations online. To find out more on how to bid for projects, please visit: https://www.gebiz.gov.sg/ and search for “MPA” in opportunities.

For more information, please contact Sherry Ng, Regional Commercial Assistant, ASEAN.