Singapore extends port dues concession for container ships

The Maritime and Port Authority of Singapore (MPA) will extend the 20 percent port dues concession for container ships calling at Singapore for another two years from July 1, 2010 to June 30, 2012 to boost Singapore's attractiveness as a transshipment hub port.

Introduced in May 1996, the port dues concession was part of MPA's efforts to enhance the competitiveness of the Port of Singapore, MPA announced on Wednesday.

In the year 2009, vessel calls by containers ships made up 14 percent of the total 130,575 vessel calls in Singapore ports.

An estimated 50 million Singapore dollars (35.71 million U.S. dollars) is set aside for incentives such as this concession.

Source: Xinhua