Singapore Slips on Oil, Threat from Indonesia-U.S. Direct Services Looms — Panjiva
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Singapore Slips on Oil, Threat from Indonesia-U.S. Direct Services Looms

Corp - Ports 880 Corp - Shipping 976 Energy - Crude Oil 300 Indonesia 99 Mode - Containerized 1468 Mode - Seaborne 1801 Singapore 68 U.S. 5317

Cargo handling through Singapore fell 2% on a year earlier in April, the first decline since July 2016. That was largely due to a fifth straight slide in oil handling, which may face further disruption from America’s new sanctions against Iran. Containerized freight continued to expand, with a 7% improvement. The longer-term growth in containerized freight handling from Singapore’s regional hub status may come under threat. Direct services from Indonesia to the U.S. have been launched by CMA-CGM while the government plans significant new port investments. Freight originating in Indonesia...

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