Maritime hubs like Singapore critical amid worldwide disruptions: DPM Gan

Maritime hubs like Singapore are critical in ensuring trade carries on at a time when disruptions in the Strait of Hormuz cascade across the global economy, said Deputy Prime Minister Gan Kim Yong on April 21.

Delivering the Singapore Maritime Lecture at the Suntec Singapore Convention and Exhibition Centre, he noted that the crisis in the narrow waterway is not just regional but a “systemic shock” that has had an impact on energy prices, transport costs and production chains.

DPM Gan, who is also Trade and Industry Minister, told attendees at the opening of the annual Singapore Maritime Week that maritime hubs, therefore, play a stabilising role by maintaining connectivity in a volatile environment.

Read more at: https://www.straitstimes.com/singapore/transport/maritime-hubs-like-singapore-critical-amid-worldwide-disruptions-dpm-gan?ref=top-stories