The government is adding more ships to support shipping companies amid rising costs.
Attacks in the Red Sea and droughts in Panama disrupt supply chains, slowing Singapore's logistics growth.
The shipping industry's challenges will last into the first half of 2024 due to high inventory levels and reduced consumer spending, a CNBC survey found.
The Yara Eyde is expected to enter service in 2026 and will help reduce 11,000 tonnes of CO2 emissions per year.