PSA cutting port dues like crazy to stop losing business

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Extra 10% concession on port dues for container vessels in Singapore
The additional concession will be on top of the existing port dues concessions. These are expected to amount to more than S$17 million in annual savings for container liners.

SINGAPORE: An additional 10 per cent concession on port dues will be granted to container vessels calling at the Port of Singapore, starting from Friday (Jan 15).

The additional concession will be in place for one year, and will be granted to container vessels calling at the Port of Singapore if they are carrying out cargo works with a port stay of not more than five days.

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

In all, these concessions are expected to amount to more than S$17 million in annual savings for container liners and help Singapore strengthen its position as a global hub port.

Transport Minister and Coordinating Minister for Infrastructure Khaw Boon Wan announced this at a maritime industry conference on Wednesday.

He said: "It's another reflection of the Singapore Government's consistent commitment to stand with and help our partners through challenging times. To further strengthen Singapore's position as an international maritime centre, MPA (Maritime and Port Authority of Singapore) will develop a manpower plan for the Sea Transport Sector under the SkillsFuture framework.

"I am happy that three new SkillsFuture Earn and Learn programmes for the maritime sector will be rolled out by June this year."

The initiative comes amid a challenging operating environment, where the Port of Singapore posted a mixed performance for 2015 on the back of weak global economic conditions and structural changes in the maritime industry.

Advance estimates show that container throughput in 2015 fell by 8.7 per cent on-year, while cargo throughput contracted by 1.1 per cent. In contrast, vessel arrival tonnage grew 5.6 per cent. Singapore remained the world's top bunkering port with a 6.5 per cent increase in volume of bunkers sold


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