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☆ Urban solar projects are becoming more common in Singapore. Here's how one company is powering the way forward.
▼ + stars: | 2024-02-23 | by ( Sponsor Post | ) www.businessinsider.com time to read: +8 min

EDP Renewables, a leading global renewables player, has its APAC regional headquarters based in Singapore. At street level, most people never see the solar revolution happening right above them — one that generates zero emissions and boosts Singapore's energy security. Singapore's solar ambitionsSingapore is in an obvious position to integrate solar into the national power grid. In 2023, EDP Renewables APAC greened Pulau Ubin's micro-grid with renewables. Singapore has 1 gigawatt (GW) of solar energy in operation, of which EDPR has more than 30% market share of fully-owned installed solar capacity.

Persons: Kris LeBoutillier, he's, Pedro Vasconcelos, Vasconcelos, EDPR, — Pedro Vasconcelos Organizations: EDP Renewables, Public, Housing & Development Board, JTC Corporation, Singapore Technologies, Singapore Authority, SolarNova, EDB, Renewables, EDP, Insider Studios, Singapore Economic Development Board Locations: Singapore, Asia, Singtel, Jurong Port, Port, Straits, Johor, Malaysia, APAC, 1GWp

☆ Singapore exports fall for 12th month in September but recovery seen
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Singapore's exports fell for a 12th straight month in September on a year-on-year basis as the trade-reliant economy grappled again with global headwinds on inflation and declining demand. Singapore's non-oil domestic exports, or NODX, fell 13.2% in September from the same month a year earlier, data on Tuesday showed, as both electronic and non-electronic exports to its top 10 markets declined. Last month's fall compared with a Reuters poll forecast of a 14.7% drop, and extended the 22.5% contraction seen in August. There were, however, some "green shoots" in some markets, said OCBC economist Selena Ling, adding that September's data suggested some stabilization.

Persons: Selena Ling Organizations: Singapore Authority, Port Locations: Port, Port of Singapore

Chartbook: Global container freightIn the United States, the volume of container trade handled through the nine largest ports in July was the lowest for the time of year since 2017. The volume of container freight hauled on the major railroads in June was the lowest for the time of year since 2012. Container trade through the port of Singapore, a major transshipment point for the region, has climbed to record levels. Rising share prices would be consistent with an improving outlook for global trade, but the evidence for it so far is limited. Related columns:- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Mike Segar, pare, Korea’s, John Kemp Organizations: REUTERS, Manufacturers, Economic, Heathrow, China’s, Global, Thomson, Reuters Locations: Port Elizabeth , New Jersey, U.S, North America, Europe, Netherlands, United States, Japan, Narita, United Kingdom, Asia, Singapore, doldrums

☆ Singapore downgrades GDP outlook, avoids recession
▼ + stars: | 2023-08-11 | by ( Chen Lin | ) www.reuters.com time to read: +3 min

Goss domestic product (GDP) expanded a seasonally-adjusted 0.1% quarter-on-quarter in April to June, slower than 0.3% growth seen in the government's advance estimate. Manufacturing will remain weak, dampened by a protracted downturn in electronics, while finance and insurance sectors will likely be subdued, MTI said. The ministry narrowed its GDP growth forecast to 0.5% to 1.5% this year from 0.5% to 2.5% previously. Analysts are expecting no change to monetary policy at MAS's October meeting, despite cooling momentum. MAS left its policy settings unchanged in April, after tightening five times in a row since October 2021, reflecting concerns over the city-state's growth outlook.

Persons: Feline, Goss, MTI, Yong Yik Wei, Brian Tan, Chen Lin, Tom Westbrook, Kanupriya Kapoor, Jacqueline Wong Organizations: Port, REUTERS, MAS, Ministry of Trade and Industry, The Straits Times, Monetary Authority, Singapore's, Barclays, Thomson Locations: Port of Singapore, MTI, SINGAPORE, Singapore, Asia

☆ Singapore Q2 GDP grows 0.1% q/q, lower than first estimated
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

Container cranes are pictured at the Port of Singapore, June 10, 2018. REUTERS/Feline Lim/File PhotoSINGAPORE, Aug 11 (Reuters) - Singapore's economy expanded less than initially estimated in the second quarter, official data showed on Friday. Gross domestic product (GDP) grew a seasonally adjusted 0.1% quarter-on-quarter in April to June, the Ministry of Trade and Industry said, lower than the 0.3% growth seen in the government's advance estimate. On an annual basis, the economy expanded 0.5%, compared with the government's advance estimate of 0.7% and first quarter growth of 0.4%. Reporting by Chen Lin; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Feline, Chen Lin, Kanupriya Kapoor Organizations: Port, REUTERS, Gross, Ministry of Trade, Industry, Thomson Locations: Port of Singapore, SINGAPORE

LONDON, June 23 (Reuters) - Global trade remained in the doldrums during the second quarter as China’s post-lockdown rebound proved slower than expected and was offset by continued weakness in North America and Europe. Chartbook: Global container tradeChina’s freight movements have rebounded as the country emerged from lockdowns and the exit wave of the epidemic, though not as fast as anticipated at the start of the year. At Japan’s Narita airport, international air cargo was down 25% in the first five months of 2023 compared with a year ago. The most optimistic interpretation is that freight volumes have stabilised, after declining sharply in the second half of 2022, but there is no sign yet of a recovery outside China. Related columns:- Global freight cycle may have reached lowest point (May 25, 2023)- Global freight shows signs of bottoming out (April 27, 2023)- Global freight slump deepens at the start of 2023 (March 21, 2023)John Kemp is a Reuters market analyst.

Persons: John Kemp, Barbara Lewis Organizations: Global, of, European Union, Ministry of Transport, Traffic, Association of American Railroads, American Trucking Association, Thomson, Reuters Locations: North America, Europe, Netherlands, China, Asia, United States, Japan, United Kingdom, lockdowns, Singapore, East Asia, Los Angeles, Long Beach , Oakland, Houston, Charleston, Savannah, Virginia, Seattle, New York, U.S, Narita, Heathrow

LONDON, April 27 (Reuters) - Global freight volumes fell at some of the fastest rates for three decades earlier this year, but at the end of the first quarter showed signs of bottoming out. Global freight has been hit by excess inventories held all along the supply chain as consumer and business spending has reverted from merchandise to services after the pandemic. But the most recent data, albeit only covering a small number of transport hubs, shows freight volumes may have stabilised or improved at the very end of the first quarter. Chartbook: Global freight volumesThe port of Singapore’s container throughput climbed to a record high of 3.34 million twenty-foot equivalent units (TEUs) in March. Related columns:- Hard-ish landing has already arrived for U.S. manufacturers (April 4, 2023)- Global freight slump deepens at the start of 2023 (March 21, 2023)John Kemp is a Reuters market analyst.

LONDON, Oct 19 (Reuters) - Global freight volumes have begun to fall as overall consumer and business spending slows and the composition rotates from merchandise back to services after the pandemic. Chartbook: Global freight and manufacturing activityMANUFACTURING STALLSThe slowdown will gradually unblock supply chains and ease some of the intense upward pressure on merchandise prices that has occurred since mid-2020. The World Trade Organization forecasts merchandise trade will increase by just 1.0% in 2023 after rising 3.5% in 2022 (“Trade growth to slow sharply in 2023”, WTO, Oct. 5). The forecast growth in world merchandise trade volumes next year would be among the slowest rates in the last 40 years. The slowdown in industrial output and freight has already been underway for at least the last 3-6 months in most countries.

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