The Singapore Shipping Association has welcomed the recent announcement by the Maritime and Port Authority of Singapore (MPA) to grant a 10% concession in port dues for bulk carriers visiting its port.
From 15th April 2016, for a one year period, bulkers loading or unloading cargo with a port stay of no more than five days, will be eligible for this 10% concession.
Further to concessions which have taken effect over the past few months for both container vessels and offshore support vessels, this gesture will result in much needed savings for shipping companies, affected by the challenging market environment .
Mr Esben Poulsson, President of the Singapore Shipping Association, said: “It is very encouraging that the MPA recognises the storm facing our industry, and that after previously granting concessions to the offshore and container segments, the MPA is now also granting welcome port due concessions to the dry bulk segment, thus recognising the serious challenges facing this segment of the industry as well in the current downturn.”
About the Singapore Shipping Association (SSA)
The Singapore Shipping Association (SSA) represents a wide spectrum of shipping companies and other businesses allied to the shipping industry. It is a national trade association formed in 1985 to serve and promote the interests of its members and to enhance the competitiveness of Singapore as an International Maritime Centre.
To achieve its objectives, the SSA plays an active role in promoting the interests of shipping in Singapore and internationally, and co-operates with other regional and international shipping organisations to protect the marine environment and promote freedom and safety at sea. Currently SSA represents some 470 member companies; comprising shipowners and operators, ship managers, ship agents and other ancillary companies such as shipbrokers, classification societies, marine insurers, bunker suppliers, maritime lawyers, and shipping bankers amongst others.