Singapore Passenger Vessel Sector to Receive Economic Aid
Economic relief is on its way for Singapore's passenger vessel owners and operators, as well as passenger terminal operators, who have seen a drop in passenger volumes due to the COVID-19 outbreak, Deputy Prime Minister and Minister for Finance, Heng Swee Keat, announced Thursday, as part of the Resilience Budget.The 50% port dues concession to passenger vessels from March 1 to August 31, announced by the Maritime and Port Authority of Singapore's (MPA) in February, will extend for another four months until December 31, 2020.
Singapore Gives 50% Port Dues Concession
Singapore's Maritime and Port Authority (MPA) will be giving a 50% port dues concession to passenger ships, to provide relief to ship owners and operators who have seen a drop in passenger volumes because of the COVID-19 (Coronavirus Disease 2019) outbreak.All cruise vessels and regional ferries with a port stay of not more than five days, and passenger-carrying harbour craft will qualify for the new concession.According to MPA, it is expected to benefit more than 600 cruise vessels, regional ferries and passenger-carrying harbour craft, bringing total savings of over $1 million in the six-month period.The new port dues concession for passenger vessels is part of the COVID-19 relief package announced today by Deputy Prime Minister and Minister for Finance Heng Swee Keat.
Port Dues Concession for Box Ships at Singapore
In light of the current shipping downturn and to demonstrate the government’s commitment to maintain Singapore as a global hub port, MPA will grant an additional 10% concession on port dues payable by ocean going container vessels carrying out cargo works with port stay of not more than 5 days. This will be for a period of 1 year and will take effect on 15 January 2016. The additional 10% concession is granted on remaining port dues payable after the port dues concession for green port programme, if applicable, and the 20% port dues concession for container vessels which was first introduced in 1996. Source: Maritime and Port Authority of Singapore Port Marine Circular No.2 of 2016 dated 14 January 2016
Singapore Port Dues Concession for Container Ships
The Singapore Maritime and Port Authority (MPA) issued a Circular stating that the 20% port dues concession for container ships has been extended through 30 June 2008. The concession does not apply to container ships staying in port for more than 10 days. Port Marine Circular No. 13 of 2006 Source: HK Law
