Singapore reduces dues concession

The recovery in the global economy and shipping industry has prompted the Port of Singapore to reduce its port dues concession.

As from October 1, the previous 10% reduction was reduced to just 5% for vessels staying less than 10 days.

The initial concession was introduced in April last year as the impact of the global downturn began to negatively affect shipping.

Nevertheless, the decision to continue to offer 5% discount has been influenced by the uncertain outlook for economies in the US and Europe.
(Source:www.portstrategy.com)