MPA slashes fees for bulkers calling in Singapore

MPA slashes fees for bulkers calling in Singapore

In view of the current downturn in the industry, the Maritime and Port Authority of Singapore (MPA) will grant, with effect from 15 April 2016, a 10% concession on port dues for bulk carriers. This concession will be applicable if the vessels are carrying out cargo works with a port stay of not more than five days and will be in place for one year.

This latest move follows MPA’s announcement in January of an additional 10% concession on port dues granted to container vessels that carry out cargo works with a port stay of not more than five days. The concession was on top of existing port dues concessions such as the Green Port Programme incentives and the 20% concession first introduced in 1996.

Taken together with the existing concessions including those granted to offshore support vessels and container vessels, these concessions are expected to yield S$18m ($13.26m) in savings for shipping companies over one year.

“The roll out of these measures demonstrates Singapore’s commitment to help the maritime sector through this challenging time, and its importance in contributing to our economy and creating good jobs for Singaporeans,” the MPA said in a release today.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts