The Maritime and Port Authority of Singapore (MPA) will grant a 10 percent concession in port dues for bulk carriers visiting its port. For a one year period beginning April 15, 2016, bulkers loading or unloading cargo with a port stay of no longer than five days will be eligible for this concession.
Further to concessions which have taken effect over the past few months for both container vessels and offshore support vessels, this gesture will result in savings for shipping companies affected by the challenging market environment.
Welcoming the announcement is the Singapore Shipping Association, whose president Esben Poulsson said, “It is very encouraging that the MPA recognizes the storm facing our industry, and that after previously granting concessions to the offshore and container segments, the MPA is now also granting welcome port due concessions to the dry bulk segment, thus recognizing the serious challenges facing this segment of the industry as well in the current downturn.”
