Singapore registry adds 94 ships in September, bucks declining trend since 2016, as US and China tussle over port fees
Shipowners reflagging their fleet to the Republic in an attempt to navigate geopolitical tensions
[SINGAPORE] The ship registry of Singapore saw a spike in the number of vessels it administered in September, with the surge in tonnage in that month alone exceeding the annual change in all but two of the past 12 years.
The Singapore Registry of Ships (SRS) had 94 additional vessels registered and added about eight million gross tons, preliminary estimates recently published by the Maritime and Port Authority of Singapore showed.
The added gross tons surpassed the annual addition in the past 12 years, except for 2014 and 2024 when the registry recorded increases of about 8.6 million and 8.5 million gross tons, respectively.
Year to date, SRS added 19.1 million gross tons, more than double the highest annual tonnage increase from 2013 to 2024.
As at September, SRS had 4,230 vessels with nearly 127.8 million gross tons in total – the highest since 2013.
The addition of 244 vessels year to date helped SRS buck a declining trend that started in 2016 when the number of ships registered had been on a decline annually.
The higher number of ships registered this year came as more shipowners reflagged their fleets to the Republic in an attempt to navigate the geopolitical tensions between the United States and China.
Hong Kong-based Pacific Basin Shipping announced in a bourse filing on Oct 16 that it had transferred several vessels under a plan to transfer about half of its fleet to Singaporean ownership and flag.
These reflagged ships are to be deployed on voyages calling at US ports while the US levy on China-linked vessels entering US ports is in force.
Pacific Basin’s strategic leadership and commercial decision-making, along with responsibility for technical management of its Singapore-owned fleet, are located in the Republic, the announcement added.
These are the “proactive” steps it has taken to protect its business and position Pacific Basin to continue serving its customers freely and competitively across all safe ports and countries, including China and the US.
Seaspan Corp reportedly moved its headquarters from Hong Kong to Singapore with its fleet of 100 vessels to be reflagged to dodge the US port fees.
Company filings from a search on data platform Handshakes showed that Seaspan, which touts itself as the world’s largest independent charter owner and operator of containerships, incorporated 82 companies in Singapore in July and August.
However, the US and China on Thursday (Oct 30) agreed to pause the imposition of port fees on each other’s vessels calling at their respective ports.
Before the suspension, the US Trade Representative’s new fees on Chinese vessels entering ports in the nation took effect from Oct 14, 2025, affecting Chinese owners and operators, as well as ships built in China. Only smaller Chinese-built ships and those that make short-haul voyages will be exempted from the fees.
In a research report on global container shipping released in September, HSBC forecast that Chinese sea carriers will be the worst hit by the fees.
In retaliation, China imposed countermeasures in the form of similar port fees on vessels owned or operated by US firms and individuals – or those built in the US or that fly the US flag – from Oct 14.
About the Singapore Registry of Ships
Under international maritime law, all merchant ships participating in international trade need to be registered in a country of the shipowner’s choosing, called the flag state. Each ship is bound by the laws of the flag state that it is registered in.
The Singapore Registry of Ships, established in 1966, is responsible for overseeing Singapore-flagged ships and ensuring that these vessels and their owners meet local and international regulations covering areas such as crew safety and environmental protection.
Singapore’s ship registry, which tied with Hong Kong in fifth position globally as at June 2025 according to Clarkson data, comes under the purview of the Maritime and Port Authority of Singapore.
Liberia is the largest ship registry in the world, Clarkson data indicated, with 17 per cent share of the world fleet. Panama and the Marshall Islands respectively held 14 and 11 per cent shares, while Singapore and Hong Kong each had 7 per cent shares.
Only Singapore citizens, permanent residents or companies incorporated in the Republic may be registered as owners of Singapore-flagged ships. These companies can be local or foreign-owned.
For a company to be registered as the owner of a Singapore-flagged ship, it must have a minimum paid-up capital of S$50,000. But this requirement may be waived depending on the number of ships being registered and their aggregated tonnage.
