PLANS to replace off-shoring of supply chains with in-shoring will not be possible to any significant degrees, says Singapore Transport Minister Ong Ye Kung, reported Colchester's Seatrade Maritime News.
Speaking at the 15th Singapore Maritime Week, Mr Ong said: "It is not possible to unwind globalisation and the complex supply networks that have been set in place.
"For example, Apple relies on a network of manufacturers from almost 50 countries to produce an iPhone, while Pfizer needs over 5,000 suppliers to manufacture its vaccines," he said.
The disruption in the supply chain by Covid-19 and the blockage of the Suez Canal have driven talk of in-shoring, but Singapore believes possibilities along this line are limited.
"To prepare for future disruptions, there have been talks of in-shoring, to reduce the reliance on foreign supplies, focus more on 'just-in-case' and less on just-in-time," Mr Ong said.
But the scope for such changes would be limited, he said. "I think countries can do this, but probably only at the margins," he said.
"Ensuring the safety and openness of international trade arteries like the Straits of Malacca and Singapore therefore remains a critical task, and requires the collective effort of all stakeholder countries," he said.
"Because of this, the Maritime Port Authority (MPA) of Singapore will continue to enhance its Vessel Traffic Information System (VTIS) to ensure safety of navigation, including early detection of collision and grounding risks." said Mr Ong.
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