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43-655: In January 1948, the British colonial government announced a development scheme in the Telok Ayer reclamation area, consisting of the development of 250,000 square feet (23,000 m) of state land and the extension of Raffles Quay from Boon Tat Street to Prince Edward Road. The construction of the Raffles Quay extension was also recommended to the government in a special committee's report in September 1948, to improve connectivity between

86-603: A common market between Singapore and the Peninsular states. Since Singapore's full independence in 1965, it has had to compete with other ports in the region to attract shipping and trade at its port. It has done so by developing an export-oriented economy based on value-added manufacturing. It obtains raw or partially manufactured products from regional and global markets and exports value-added products back to these markets through market access agreements such as World Trade Organization directives and free trade agreements . By

129-812: A 602-meter quay, and 12.5-meter depth. Another 9 berths are under construction, with a 20-meter depth. In 2015, it was announced that the port would be leased to the Chinese till 2059 and further developed under the China-Pakistan Economic Corridor . Asia Square Asia Square is a retail and office building located along Marina View at Marina Bay in Singapore . It is located in Marina Bay, Singapore's new business and financial precinct. It comprises 2,000,000 square feet (190,000 m ) of office space, over 30 entertainment and dining premises, as well as

172-731: A Kingdom known as Singapura was established on the north bank of the Singapore River around what was called the Old Harbour. It was the only port in the southern part of the Strait of Malacca and serviced ships and traders in the region, competing with other ports along the coast of the Malacca Strait such as Jambi , Kota Cina, Lambri, Semudra, Palembang , South Kedah and Tamiang. The port had two functions. First, it made available products that were in demand by international markets; according to

215-494: A consortium of Norway's sovereign wealth fund has been chosen as the preferred bidder to buy the Asia Square Tower 1 office building. On 4 November 2015, CapitaLand has pulled out of talks on the acquisition. BlackRock Real Estate mentioned talks with other parties are still in progress. On 6 June 2016, Qatar Investment Authority , a sovereign wealth fund , has agreed to purchase the building for S$ 3.4 billion. Citi

258-452: A ground-level exit. A second linkway bridge connects Asia Square to IOI Central Boulevard Towers . Asia Square Tower 1, which consists of 43 floors, was officially opened on 8 November 2011 by Emeritus Senior Minister Goh Chok Tong . The Honorary Consulate of Slovenia is on the ninth floor of this building. Asia Square Tower 2, which consists of 46 floors, was officially opened on 19 November 2013. On 14 October 2015, CapitaLand and

301-526: A significant entrepôt and trading post for at least two centuries. During the contemporary era, its ports have not become just a mere economic boon for the country, but an economic necessity because Singapore is lacking in land and natural resources . The port is critical for importing natural resources, and then later re-exporting products after they have been domestically refined and shaped in some manner, for example wafer fabrication or oil refining to generate value added revenue. The Port of Singapore

344-494: A stake in the port-settlement. Chinese traders, because of their frequent commercial interactions with Southeast Asian traders throughout the year, set up their trading houses along the lower reaches of the river, while English country traders, who depended on the annual arrival of trade from India, set up warehouses along the upper reaches. The port relied on three main networks of trade that existed in Southeast Asia at that time:

387-421: Is also the world's biggest bunkering hub, with 25 million tonnes sold in the same year. Singapore is ranked first globally in 2005 in terms of containerised traffic, with 23.2 million Twenty-foot equivalent units (TEUs) handled. High growth in containerised traffic has seen the port overtaking Hong Kong since the first quarter of 2005, and has led the race ever since, with an estimated 19,335 kTEUs handled in

430-684: Is also the world's largest bunkering port. The majority of ships that pass between the Indian Ocean and the Pacific Ocean go through the Singapore Strait. The Straits of Johor on the country's north are impassable for ships due to the Johor-Singapore Causeway , built in 1923, which links the town of Woodlands, Singapore to the city of Johor Bahru in Malaysia. In the late 13th century,

473-485: Is going to be the single largest fully-automated terminal in the world". It will also be able to cater to the demands of the world's largest container ships, with 26 km of deep-water berths. Besides just handling containers, the port will have space set aside for companies to be located, a move that aims to improve the links between port and businesses. It is projected to be twice the size of Ang Mo Kio new town. Operations at Tuas Mega Port began in September 2021, and

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516-540: Is the anchor tenant for Asia Square Tower 1, giving Citi the right to external signage on the building. Tower 1 houses Citi Asia Pacific , Citi Singapore headquarters and Citi Private Bank. Other Tower 1 tenants include the global investment bank New State Corporation, the Taipei-based Global Financial Services Group CTBC Bank at #33-02, China Citic Bank International, Julius Baer , China Fortune Land Development 's international HQ,

559-521: The Daoyi Zhilüe ( Brief Annals of Foreign Islands , 1349) by Chinese trader Wang Dayuan (born 1311, fl. 1328–1339), these included top-quality hornbill casques, lakawood and cotton. Although these goods were also available from other Southeast Asian ports, those from Singapore were unique in terms of their quality. Secondly, Singapore acted as a gateway into the regional and international economic system for its immediate region. South Johor and

602-509: The Downtown line (DTL) and the upcoming Prince Edward Road station on the Circle line (CCL), located at the end of the road towards Keppel. Port of Singapore The Port of Singapore is the collection of facilities and terminals that conduct maritime trade and handle Singapore 's harbours and shipping. It has been ranked as the top maritime capital of the world, since 2015. Currently

645-481: The Maritime and Port Authority of Singapore (MPA) aims to grow the industry's value-add by $ 4.5 billion and create more than 5,000 new jobs by 2025. Automation will be a key part of the new port, with over 1,000 battery-powered driverless vehicles and a fleet of almost 1,000 automated yard cranes to be developed for the port. Nelson Quek, PSA Singapore's head of Tuas planning stated that "Tuas, when it's fully developed,

688-524: The Riau Archipelago supplied products to Singapore for export elsewhere, while Singapore was the main source of foreign products to the region. Archaeological artefacts such as ceramics and glassware found in the Riau Archipelago evidence this. In addition, cotton was transshipped from Java or India through Singapore. In 1984, an archaeological excavation had commenced at Fort Canning Hill led by

731-561: The Riau – Lingga Archipelago by the 1830s, and South Johor by the 1840s. It had also become the centre of the Teochew trade in marine produce and rice. As the volume of its maritime trade increased in the 19th century, Singapore became a key port of call for sailing and steam vessels in their passage along Asian sea routes. From the 1840s, Singapore became an important coaling station for steam shipping networks that were beginning to form. Towards

774-515: The Straits Times described as a "record auction". Nevertheless, problems soon arose with the scheme, as several developers were unable to have their building plans approved since the minimum building cost of $ 1,000,000 set by the lease conditions exceeded the $ 50,000 limit under the Control of Building Ordinance. Development resumed after the government announced the loosening of most restrictions set by

817-837: The Swiss National Bank , Bank Sarasin, Lloyd's of London , Marsh & McLennan , White & Case , Booz Allen Hamilton , Royal Bank of Canada , Fidelity and Sinochem . Leading service office Regus has set up a business centre on level 7. A fitness brand from Hong Kong occupies the entire level 6 at Asia Square Tower 1, a total of 32,000 square feet (3,000 m ), said to be Singapore's largest gym. Tenants of Asia Square Tower 2 include: Mizuho , Allianz , Westpac , Bank Mandiri , JustCo, Mercuria Energy Trading, National Australia Bank , Nikko Asset Management, Edrington, Platinum Equity Advisors, The Work Project, Pepper Global, Russell Reynolds and Swiss Re . The development incorporates several environmental sustainable features. It has

860-468: The world's second-busiest port in terms of total shipping tonnage, it also transships a fifth of the world's shipping containers , half of the world's annual supply of crude oil , and is the world's busiest transshipment port. It was also the busiest port in terms of total cargo tonnage handled until 2010, when it was surpassed by the Port of Shanghai . Because of its strategic location, Singapore has been

903-428: The 1830s, Singapore had overtaken Batavia (now Jakarta ) as the centre of the Chinese junk trade, and also become the centre of English country trade, in Southeast Asia. This was because Southeast Asian traders preferred the free port of Singapore to other major regional ports which had cumbersome restrictions. Singapore had also supplanted Tanjung Pinang as the export gateway for the gambier and pepper industry of

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946-515: The 1970s onwards and continues to be a prime commercial address on par with that of Raffles Place today. The Shenton Way Bus Terminal is located at 31 Shenton Way. The road is directly served by its namesake Shenton Way station on the Thomson–East Coast line (TEL), located on Park Street next to the Asia Square building. Other stations within the vicinity include Downtown station on

989-648: The 1980s, maritime trading activity had ceased in the vicinity of the Singapore River except in the form of passenger transport, as other terminals and harbours took over this role. Keppel Harbour is now home to three container terminals . Other terminals were built in Jurong and Pasir Panjang as well as in Sembawang in the north. Today, the port operations in Singapore are handled by two players: PSA International (formerly

1032-663: The Chinese network, which linked Southeast Asia with the southern Chinese ports of Fujian and Guangdong ; the Southeast Asian network, which linked the islands of the Indonesian archipelago ; and the European and Indian Ocean network, which linked Singapore to the markets of Europe and the Indian Ocean littoral . These networks were complementary, and positioned Singapore as the transshipment point of regional and international trade. By

1075-534: The Pasir Panjang Container Terminal's Phase Two which are due for completion by 2009. Phase Three and Four will add another 16 berths and are expected to be completed by 2013. Jurong Port's facilities are as follows: PSA Singapore also has a 40-year contract to operate the tax-free Gwadar Port on the southwestern coast of Pakistan. Gwadar started operation in March 2008, with 3 multi-purpose berths,

1118-548: The Port of Singapore Authority) and Jurong Port , which collectively operate six container terminals and three general-purpose terminals around Singapore. In the 1990s the port became more well-known and overtook Yokohama, and eventually became the busiest port in terms of shipping tonnage. Singapore is part of the Maritime Silk Road that runs from the Chinese coast to the southern tip of India, to Mombasa , from there through

1161-807: The Red Sea via the Suez Canal to the Mediterranean, to the Upper Adriatic region of the northern Italian hub Trieste with its rail connections to Central Europe and the North Sea . The Tuas Mega Port is projected to be the only port in Singapore after the PSA city terminals and Pasir Panjang Terminal are closed in 2027 and 2040 respectively, ending an era of port operations in the city area which began in 1819. The Sea Transport Industry Transformation Map (ITM) launched by

1204-655: The Singapore government about development of the Shenton Way area. In response, in October 1963, the government announced plans to allow private interests to develop a site along Shenton Way, beside the Trade Union House , for "administrative uses". The site, subdivided into four plots, was let out on 99-year leases in 1964. Since the 1950s, Shenton Way has become known as Singapore's Wall Street , especially after commercial developments and government offices were built there from

1247-507: The archaeologist Dr John Miksic . A range of artefacts including earthenware, ceramic, and porcelain pieces were found which suggests Singapore's role as an active trading port in the 14th century. By the 15th century, Singapore had declined as an international trading port due to the ascendance of the Malacca Sultanate . Local trade continued on the island. A map of Singapore by Portuguese mathematician Manuel Godinho de Eredia showed

1290-483: The central area and the harbour and to allow for the development of reclaimed land between Tanjong Pagar and Finalyson Green. Work on the extension's first phase between Raffles Quay and Prince Edward Road had commenced by December 1950, while construction of the second phase linking Prince Edward Road to Singapore Harbour was expected to commence in 1951. The first section of the road was opened to traffic in August 1951 by

1333-477: The colonial government initiated a development scheme in the area, offering 17 plots of land along Shenton Way and Robinson Road for sale on 99-year leases. These plots were leased out on the condition that ten-storey buildings with a uniform exterior design and finish, and conforming to government regulations on their construction and use, were built on them within a four-year window. The plots were auctioned off to developers in March 1952 at over $ 3,900,000, in what

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1376-569: The colonial period, this was the most important role of the port of Singapore. Singapore ceased to be part of the British Empire when it merged with Malaysia in 1963. Singapore lost its hinterland and was no longer the administrative or economic capital of the Malay Peninsula. The processing in Singapore of raw materials extracted in the Peninsula was drastically reduced due to the absence of

1419-531: The deep and sheltered waters in Keppel Harbour , established for the British Empire a new settlement and international trading port on the island. Keen to attract Asian and European traders to the new port, Raffles directed that land along the banks of the Singapore River, particularly the south bank, be reclaimed where necessary and allocated to Chinese and English country traders to encourage them to establish

1462-514: The largest gym in the Central Business District . Asia Square is also Singapore's first commercial development integrated with a business hotel, The Westin Singapore , located at Tower 2. A 100,000 square feet (9,300 m ) landscaped plaza, The Cube, links the two towers at Asia Square. In addition, various linkways connect Asia Square to external developments. Asia Square is connected to   TE19   Shenton Way MRT via

1505-612: The late 19th century, Singapore became a staple port servicing the geographical hinterland of the Malay Peninsula . Following the institution of the British Forward Movement, Singapore became the administrative capital of British Malaya . Roads and railways were developed to transport primary materials such as crude oil, rubber and tin from the Malay Peninsula to Singapore to be processed into staple products, and then shipped to Britain and other international markets. During

1548-517: The location of Xabandaria or the office of a shahbandar , the Malay official responsible for international trade. Shards of 15th-century Siam ceramics and late 16th – or early 17th-century Chinese blue and white porcelain have been found at the Singapore and Kallang Rivers . Singapore also provided other regional ports with local products demanded by international markets. For instance, blackwood (a generic term used by Europeans to refer to rosewood )

1591-584: The onset of a recession, and high construction costs. Subsequently, in June 1954, the government took back 11 of the auctioned plots from the developers, as the developers had not commenced construction within the stipulated two-year period. New development plans for the area were announced by the government in January 1956, comprising the construction of the Singapore Polytechnic and of government offices. Work on

1634-557: The ordinance, but hit another snag when developers were unable to find solid rock for foundations. A diamond-headed drill from Britain and a specialist from Australia was brought in by a developer to assist in the process, finding solid rock and underground water under the site. The depth of the rock, along with the underground water, necessitated the use of more expensive precast piles, driving up building cost. By September 1953, only two developers had started construction, while several others were contemplating abandoning development, owing to

1677-776: The polytechnic commenced on in August 1956, and it started classes in November 1958, but the government office project was cancelled by the government in April 1958, due to a trade recession. In addition, the Trade Union House, the National Trades Union Congress 's headquarters, was built along Shenton Way from 1962 to 1965. By 1963, much of the land in Singapore's central business district, between Raffles Place, High Street, and North Bridge Road, had been developed, and according to The Straits Times , property developers had asked

1720-406: The port officially opened on September 1, 2022 with three berths in service. The port is the world's busiest port in terms of shipping tonnage handled, with 1.15 billion gross tons (GT) handled in 2005. In terms of cargo tonnage, Singapore is behind Shanghai with 423 million freight tons handled. The port retains its position as the world's busiest hub for transshipment traffic in 2005, and

1763-519: The then-Governor of Singapore Franklin Gibson. Consisting of two 27 feet (8.2 m) carriageways, the road was named "Shenton Way" after Shenton Thomas , to show appreciation for his service to Singapore during his tenure as Governor. Plans for the second phase of construction, connecting the initial section with the harbour, were submitted for approval in July 1951, and it was completed in 1952. In February 1952,

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1806-540: The year up to October, compared to 18,640 kTEUs handled in Hong Kong in the same period. A rise in regional traffic consolidating the port's position in Southeast Asia, and increases in transshipment traffic using the strategic East Asia-Europe route via Singapore helped the port to emerge tops at the end of the year, a title it had not held since overtaking Hong Kong once in 1998. PSA Singapore's container facilities are as follows: PSA Singapore has 13 berths which are part of

1849-409: Was exported from Singapore to Malacca , and was in turn purchased by Chinese traders and shipped to China for furniture-making:) In the early 17th century, Singapore's main settlement and its port were destroyed by a punitive force from Aceh . After this incident, there was no significant settlement or port at Singapore until 1819. In 1819, Stamford Raffles , a British colonial official, excited by

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