Singapore cuts port fees to help shippers

The new measure means that ocean-going ships remaining in port for not more than 10 days will now get a 10% reduction in port fees, while harbour craft engaged in commercial activity in the port can expect a 20% reduction. Both reductions will take effect from 1 April and will remain in place for one year.

“The 10% concession in port dues to ocean-going vessels will be extended over and above existing port dues concessions already enjoyed by the industry, such as the 20% concession for container ships and 20% rebate scheme for vehicle carrier operators,” said the MPA statement. “This concession will broaden the spectrum of vessels such as bulk carriers, tankers and other types of ocean-going vessels benefiting from the financial relief.”

It added that the reduction for harbour craft was intended to assist the domestic sector and sought to “lower the business costs of port and marine services providers, such as bunker suppliers, ship chandlers, tug boat operators and domestic ferry operators.”