Abstract

This chapter studies the volatility and uncertainty in the shipping industry and takes a special look into the container shipping market under the background of the COVID-19 pandemic. The Port of Singapore, which is one of the busiest container ports, has experienced a certain level of impact during the pandemic. The analysis focuses mainly on Singapore’s container shipping market regarding container throughput, container shipping traffic, and freight rate performance. The performance of container shipping implied by the port data in Singapore is analysed to illustrate the volatility and uncertainty in the market. The study also conducts a comparison between the container shipping sector and other cargo shipping sectors in Singapore. With the results shown what had happened during the COVID-19 crisis, the implications reveal the volatile nature of the shipping markets and suggest the necessity of developing digitalisation and automation in the maritime industry.

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