The Port of Singapore refers to the collective facilities and terminals that conduct maritime trade, and which handle Singapore's harbors and shipping. It is ranked as the top maritime capital of the world since 2015. Currently the world's second busiest port in terms of total shipping tonnage, it also transships a fifth of the world's shipping containers, half of the world's annual supply of crude oil, and is the world's busiest transshipment port. It was also the busiest port in terms of total cargo tonnage handled until 2005 when it was surpassed by the Port of Shanghai. Thousands of ships drop anchor in the harbor, connecting the port to over 600 other ports in 123 countries and spread over six continents.The Port of Singapore is not a mere economic boon, but an economic necessity because Singapore is lacking in land and natural resources. The Port is critical for importing natural resources, and then later re-exporting products after they have been refined and shaped in some manner, for example wafer fabrication or oil refining to generate revenue. The service industries such as hospitality services typical of a port of call restock the food and water supplies on ships. Ships pass between the Indian Ocean and the Pacific Ocean through the Singapore Strait.
