WHAT SINGAPORE IS DOING
The disruption in the Strait of Hormuz has led to rerouting, delays and congestion, said Mr Gan.
Such shocks increase the importance of hubs that can provide flexibility and optionality, enabling flows to be redirected quickly and efficiently, he added.
Singapore is an example of such a hub, he said, noting that it is the world’s busiest transshipment port and a “key node in global maritime networks”.
“In a more volatile world, such connectivity is not just an economic asset — it is a crucial part of resilience not only for ourselves, but for the rest of the world,” he said.
Singapore is also working with partners to advance standards in digitalisation and decarbonisation.
Mr Gan said the launch of OCEANS-X at the Singapore Maritime Week is such an example.
