Port concession

The Singapore Shipping Association has welcomed the Maritime and Port Authority of Singapore decision to grant a 10 per cent concession in port dues for bulk carriers visiting its port. From 15 April 2016, for one year, bulkers loading or unloading cargo with a port stay of no more than five days will be eligible for this 10 per cent concession. Further to concessions in the past few months for both container vessels and offshore support vessels, this gesture will result in much needed savings for shipping companies, affected by the challenging market environment.