SINGAPORE - As climate change melts the Arctic ice and opens alternative routes for cargo ships plying between Asia and Europe, it poses a challenge to Singapore's maritime status as it could divert trade away from the traditional Suez-Malacca route.. Read more at straitstimes.com.
SINGAPORE - As climate change melts the Arctic ice and opens alternative routes for cargo ships plying between Asia and Europe, it poses a challenge to Singapore's maritime status as it could divert trade away from the traditional Suez-Malacca route.
"Geography is not destiny. It can neither prescribe our failure nor promise our success", he said when delivering the 13th Singapore Maritime Lecture to about 400 maritime professionals. Mr Chan pointed to the Asean Single Window - a digital platform that allows traders to benefit from expedited cargo clearance and reduced paperwork - as well as Singapore's Networked Trade Platform, launched last year, which combines all customs and trade-related services on a single platform.
But to truly succeed as a maritime hub, Mr Chan said Singapore will need to broaden and deepen its"maritime service offerings by strengthening complementary adjacent sectors such as finance, insurance, commodity trading and logistics".
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