The forecasted import value of special purpose ships and vessels to Singapore shows a consistent decline from $43.243 million in 2024 to $25.433 million in 2028. This represents a significant decrease compared to the actual value of $49 million recorded in 2023. Year-on-year variations indicate a -10.6% drop in 2025, followed by another -11.6% in 2026, -12.9% in 2027, and -14.5% in 2028, with a Compound Annual Growth Rate (CAGR) of approximately -10.9% over these five years.
Future trends to watch for:
• Global economic conditions impacting maritime trade.
• Technological advancements in shipbuilding reducing the need for imports.
• Changes in regulatory policies and environmental standards.
• Advancements in alternative transportation methods and logistics.