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New initiatives to let bunkering maintain its edge

Productivity and standards to be raised; PIC for bunker suppliers, craft operators

Singapore

IN further efforts to safeguard Singapore's reputation as a top global bunkering port, the government on Wednesday introduced a slew of initiatives designed to improve productivity and standards in the industry.

For one, bunker suppliers and bunker craft operators will now be able to tap the Productivity and Innovation Credit (PIC) scheme, to help finance their transition to the use of mass flow meters.

As announced by the Maritime and Port Authority of Singapore (MPA) in April, Singapore will implement the mandatory adoption of mass flow meters for bunkering marine fuel oil (MFO) in the Port of Singapore from Jan 1, 2017. By tapping the PIC scheme, administered by the Inland Revenue Authority...

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