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At the 2016 Asian Freight, Logistics and Supply Chain Awards (AFLAS), held on the 14th of June, the Port of Singapore was once again named 'Best Seaport in Asia', making it the 28th time the port has received this honour.

The Asian shipping hub was recognised at the award ceremony after being assessed on a range of evaluation criteria that included cost effectiveness, infrastructure and service quality.

Held in Shanghai, China, the AFLAS honour organisations for showing leadership within the industry and demonstrating consistency in their service quality, customer relations, innovation and reliability.

In a statement, the Maritime and Port Authority of Singapore (MPA) explained that the port had received the award due to its "cost competitiveness, container shipping-friendly fee regime, provision of suitable containing shipping-related infrastructure, timely and adequate investment in new infrastructure to meet future demand and the facilitation of ancillary services".

"MPA will continue to work closely with industry stakeholders to plan ahead and implement measures to keep our current standing," MPA chief executive Andrew Tan said.

The construction of the Tuas Terminal is one project that is seeing Singapore continue to develop; this terminal has been designed to hold a total capacity of up to 65 million TEUs upon completion. Last year also saw a rise in bunker sales volume in Singapore - the world's leading bunker port. Total sales of marine fuels in 2015 were over 45 million tonnes - more than double the 20.35-million-tonne figure recorded 15 years ago. Throughout 2016, Singapore has been witnessing record bunker sales figures, and is on course to smash last year's total. Sales volumes in the first five months of 2016 were up 12.6 percent on the same period last year, and previous years before that.