Asia/Pacific News
Singapore Introduces Initiatives to Enhance Competitiveness
The Port of Singapore says it is making changes to its port dues structure and rates that will reduce port dues for up to 83 percent of vessels in an effort to improve the port's competitiveness.
The new dues, announced by Transport Minister Lui Tuck Yew during the Singapore International Maritime Awards, are expected to save the industry $11 million per year, on top of an $11 million savings created by a dues concession for container ships and another $7 million from the waiver of a Maritime Welfare Fee.
The new dues structure will raise dues for up to 7 percent of vessel calls, mainly long staying vessels, if their call patterns stay the same, the port said.
"I am pleased that the MPA has taken note of our industry's feedback to simplify the port dues tariff structure," said Patrick Phoon, president of the Singapore Shipping Association.
"Today's announcement will not only stimulate the growth of the shipping sector; ancillary services such as bunkering and ships supplies are likely to receive a boost too."
Lui also said the port is enhancing the Maritime Singapore Green Initiative, reducing fees and taxes for Singapore-flagged vessels that adopt sulfur oxide (SOx) scrubbers.
The environmental initiative, which gained thirteen new organisations in October, now stands at 40 participants.
