Singapore gives box ships another two-year break on dues

SINGAPORE's Maritime and Port Authority will extend the 20 per cent port dues concession to containerships for two more years to boost the city's attractiveness as a transhipment hub.

Introduced in May 1996, the concession was part of MPA's efforts to enhance the competitiveness of Singapore, said a port authority statement. "This is particularly for containerships which form the mainstay of cargo terminal activities," the MPA said.

Singapore also stated its port charges for containerships remain competitive. In the year 2009, vessel calls by containerships made up 14 per cent of the 130,575 vessel calls.

"This extension of port dues concession for containerships underscores our commitment to the maritime industry and our commitment to continue to provide a pro-business environment," said MPA chief executive Lam Yi Young.

The MPA also announced it will top-up the Maritime Cluster Fund (MCF) with S$20 million (US$14.2 million) to S$145 million. Set up in 2002, MCF aims to boost Singapore maritime sector growth, including the development of manpower, training infrastructure and other capabilities. Some S$50 million of the MCF is allocated for incentives like the port dues concession for containerships to enhance the port's competitiveness.
(Source:www.schednet.com)