Sunday, August 15, 2010: 09:15:29 PM

INTERNATIONAL NEWS

Singapore authority extends port concessions

The Maritime and Port Authority of Singapore (MPA) has extended concessions for the third time after it was introducted as part of government's Economic Resilience Package for Budget 2009. Accordingly, ocean-going ships will get five per cent port dues concession and this is over and above existing port dues concessions already enjoyed by the industry. Harbour craft, with the exception of pleasure craft for personal use, will get 10% port dues concession.

In order to help the industry during the economic downturn, MPA had introduced in 2009 a 10% concession for all ocean going ships with a port stay of not more than 10 days, and a 20% concession for harbour craft from April 1, 2009 to March 31, 2010. In March 2010, it extended it by another six months to September 30.

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