Asia/Pacific News
Singapore Imposes Gas Cargo Fee to Support LNG Bunkering
Friday July 23, 2021
Singapore's authorities are set to impose a fee on some gas cargo operations to support the growth of LNG bunkering in the city-state's waters.
From July 23 LNG loadings onto floating storage units (FSUs) and floating storage regasification units (FSRUs) in Singapore will be subject to a 20 cent/mt fee, the Maritime and Port Authority said in a statement on its website on Friday.
The move is aimed at ensuring a level playing-field and supporting LNG bunkering and breakbulk activities in Singapore, the MPA said.
The LNG bunker industry has thus far been slower to develop in Asia-Pacific than in Europe, but sales in Singapore are expected to grow rapidly in the coming years.
