MPA to grant 10% concession on port dues for bulk carriers from April 15

THE Maritime and Port Authority of Singapore (MPA) will grant a 10 per cent concession on port dues for bulk carriers, with effect from April 15, 2016.

MPA said on Tuesday that this was in view of the current downturn in the shipping industry.

The concession will be applicable if the vessels are carrying out cargo works with a port stay of not more than five days and will be in place for one year.

"This latest move follows MPA's announcement in January of an additional 10 per cent concession on port dues granted to container vessels that carry out cargo works with a port stay of not more than five days,'' MPA said.

The concession was on top of existing port dues concessions such as the Green Port Programme incentives and the 20 per cent concession first introduced in 1996.

Taken together with the existing concessions including those granted to offshore support vessels and container vessels, these concessions are expected to yield S$18 million in savings for shipping companies over one year.