Port Authority of Singapore to extend dues concession

The Maritime and Port Authority of Singapore (MPA) will extend the 20 per cent port dues concession enjoyed by containerships for another two years, from July 1, 2010 to June 30, 2012, according to Exim News Service.

"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 Mr Lam Yi Young, Chief Executive of MPA.

The extension does not apply to long-staying ships, which are those that stay in port for more than 10 days.

Last year, vessel calls by containerships made up 14 per cent of the total 130,575 vessel calls in Singapore ports.

This extension comes on the back of the government’s decision to extend the 10 per cent port dues concession for all ocean-going ships with a port stay of 10 days or less, by six months until the end of September.

Along with the extension of the concession for containerships, MPA will also top up the Maritime Cluster Fund (MCF) by $20 million to $145 million.

MCF was set up in 2002 with the aim of promoting the growth of the maritime cluster in Singapore.

The Fund helps in the development of manpower, local training infrastructure and capabilities within the maritime industry.

A total of $50 million of MCF is allocated for incentives such as the port dues concession for containerships.
(Source:www.transportweekly.com)