Last Updated: 08 January 2024
Maritime
Singapore is a maritime nation with a deep history. Over past centuries, we have risen through the ranks to become the focal point for some 200 shipping lines with links to more than 600 ports worldwide! The maritime sector is the backbone of our trade and economy and transports over 80% of the world’s cargo.
Today, Maritime Singapore continues to rank highly in terms of global competitiveness and supply chain connectivity with our thriving maritime eco-system, comprising our global hub port and International Maritime Centre. We are home to a diverse range of maritime businesses, with more than 170 international shipping groups as well as other maritime players in the areas of finance, insurance, cybersecurity, shipbroking, law, and arbitration. We are also home to the world’s busiest transshipment port and the top bunkering port in the world. The maritime sector offers vast opportunities for both a life out at sea and ashore!
The global maritime industry is also at the cusp of transformation with many future opportunities for many years to come. Digitalisation and sustainability will create new opportunities for advancement in areas such as supply chain digitalisation, automation, alternative fuels, carbon accounting, and green financing. This means there will be demand for talent from various disciplines such as business, logistics, engineering, computing, etc.
The maritime sector is a vibrant and dynamic growth sector and offers a sea of opportunities for everyone!
Growth Opportunities
The Singapore Maritime Cluster in Singapore comprises a wide range of sub-sectors, ranging from port-related activities, shipowning and operating, ship management, and maritime services such as shipbroking, marine surveying, ship finance, marine insurance, maritime law, and arbitration.
As the Singapore Maritime Cluster continues to grow in size, diversity, and vibrancy, more job opportunities are created due to the increased demand in the market for various maritime services. For example, Singapore continues to be an attractive location in Asia for companies in shipping, ship finance, shipbroking, and marine insurance. It is also fast becoming Asia’s hub for maritime law and arbitration.
Technology is also transforming maritime businesses and value chains. Ports are getting highly automated, ships are becoming smarter while business processes are getting digitalised. Skill sets and knowledge in areas like systems engineering, data analytics, cybersecurity, and green shipping will become more important as the sector continues to transform through automation, digitalisation, and decarbonisation.
Fun Facts
- In today’s interconnected world of commerce, more than 80% of the world’s trade is carried by sea.
- At any one time, there are about 1,000 vessels in the Singapore port.
- Singapore is the world’s largest transshipment port.