Changi Airport, Southeast Asia’s largest freight airfield, plans to
attract more gold bars, tuna and vaccines to Singapore as it seeks to increase
handling of high-value cargo to make up for slowing trade.
The airport may process 7 percent more cargo by volume for
pharmaceutical products such as vaccine and test drugs, as well as perishable
goods including tuna and meat this year, James Fong, assistant vice president of
cargo and logistics development at Changi Airport Group (Singapore) Pte. Drugs
are one of the three biggest items handled by value, he said.
Changi Airport is enticing carriers of high-yield cargo with a
tax-free maximum-security vault to store valuable art, gold and
gems.
“An underlying demand for
these things is growing with the rise of the Asian middle class,” Fong said in a
May 15 interview. “People want higher-value, higher-quality food. Demand in
North Asia is growing fast.”
The airport is offering 50 percent rebates on landing fees since the
start of the year to help cargo airlines struggling with lower demand amid
sluggish economies in the U.S. and Europe. Changi is enticing carriers of
high-yield cargo with a tax-free maximum-security vault to store valuable art,
gold and gems, as well as Southeast Asia’s biggest refrigerated facilities for
perishable goods.
Economic growth in the Asia-Pacific region will boost household
incomes, increasing the need for higher-quality food and luxury items, Fong
said. The size of the middle class may jump almost fivefold in 20 years,
according to Airbus SAS.
