Pharma@Changi picking up momentum

February 23, 2018: Singapore is the most efficient country in the Asia Pacific region for logistics performance and ranks 5th in the World Bank Logistics Performance Index (LPI). Changi Airport plays a crucial role in the air cargo movement in the region.

It handled 2.13 million tonnes of cargo in the year 2017. There registered an increase of 8 percent growth on a year-on-year basis in the air cargo segment last year. This is primarily because of exports. Exports grew by 14 percent, while imports by 8 percent and transhipments by 4 percent.

Interestingly, in the world ranking of cargo handing Changi Airport stood at 7th position. 9 out of the 10 cargo market of Changi Airport saw strong growth last year, notably China, Germany, South Korea. For Changi, the top five import and export markets are very similar. The export markets are US, Hong Kong, China, Australia and Korea wherein the imports markets are US, Hong Kong, China, Australia and Japan.

Pharmaceuticals, Perishables and e-commerce are the three key cargo verticals in which Singapore is concentrating more; primarily because of the high potential growth in these segments and secondly these segments are key pillars to the manufacturing sector of the country.

In the pharmaceutical segment, Changi Airport Group (CAG) has made commendable advances in the last few years. CAG formed the first airport community in the Asia Pacific with 6 companies and with its airline partner Singapore Airline Cargo attained IATA CEIV certification.

Jaisey Yip, associate GM, Cargo & Logistics Development, Air Hub Innovation, CAG said, “Pharma@Changi was born in October 2017. This initiative comprises of 10 companies