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Port congestion threatens $131 billion in trade at Singapore, Klang, and Tanjung Pelepas

Port congestion threatens $131 billion in trade at Singapore, Klang, and Tanjung Pelepas

Posted on July 29, 2024   |  

$131 billion in trade is at risk due to severe congestion at Singapore, Port Klang, and Tanjung Pelepas.

The congestion started in mid-June, worsened by ships avoiding the Red Sea due to Houthi attacks.

Ships diverted from the Red Sea are arriving late or using these ports as alternatives, leading to long delays.

Key commodities like crude oil ($7.3 billion) and integrated circuit boards ($11 billion) are heavily impacted.

Singapore's large size and location near the Strait of Malacca have led to significant queues of waiting ships.

Many ships are opting for Port Klang and Tanjung Pelepas to avoid delays in Singapore, which are also causing congestion there.

Trade volumes affected: Singapore ($89.5 billion), Port Klang ($22.7 billion), and Tanjung Pelepas ($19.5 billion).



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