port was announced the winner at the 23rd Asian Freight and Supply Chain Awards (AFSCA) on Wednesday.

The republic had to edge out competitors such as Hong Kong and Port Klang, which were nominated in the category.

won on its cost-competitiveness and container shipping-friendly services. Its maritime authorities were also said to provide timely and adequate investment in port infrastructure as well as ancillary services in logistics and freight forwarding.

Last year, 's maritime and port sector saw record volumes in vessel arrival tonnage, container throughput, and bunker sales.

Vessel arrivals reached 1.6 billion gross tonnes, up 11.1% from 2007. Container traffic grew by 7.1% to touch 29.9 million TEUs.

Bunker sales volume set a new record of 34.9 million metric tonnes (mt), up 10.8% from 2007.

The award was received by the Maritime and Port Authority of Singapore (MPA), which has introduced various initiatives to help companies lower business costs and alleviate short-term difficulties.

Some of the initiatives include the reduction and deferment of port dues as well as extension of waiver schemes.