Singapore transport minister says Suez block may disrupt supplies to the region

"Should that happen, some drawdown on inventories will become necessary," Ong Ye Kung said in a Facebook post, adding PSA, Singapore's port operators may see schedule disruptions when shipping lines reroute their journeys.

"It will have to plan ahead and ensure that operations remain smooth," he said. A container ship, almost as long as the Empire State Building is high, is blocking transit in both directions through the Suez Canal, one of the world's busiest shipping channels for oil and grain and other trade linking Asia and Europe.

Roughly 30% of the world's shipping container volume transits through the 193 km (120 miles) Suez Canal daily.