The Maritime and Port Authority of Singapore (MPA) will provide financial support to the maritime industry in the wake of the Covid-19 pandemic
The MaritimeSG Together Package, a relief package designed to protect Singapore’s maritime sector worth S$27M (US$19M), will take effect from 1 May 2020 through 31 December 2020.
Development of the fund follows previous measures announced under Singapore’s recently enacted ’Unity, Resilience and Solidarity’ budget.
To help vessel owners and operators of cargo vessels, MPA will provide a 30% reduction in port dues for cargo vessels during the period. MPA will also grant a 30% concession on port dues for all non-passenger carrying harbour craft in the Port of Singapore over the same period.
Regional ferry operators will be offered a 50% rebate to offset their monthly rental fees for overnight vessel berthing.
MPA will introduce manpower schemes, and a Maritime Cluster Fund-Internship Reimbursement Scheme partly co-funded by MPA will help companies continue to provide Singaporean students with internship opportunities. Flexibility will be exercised in credit management measures in this period.
MPA estimates there are about 500 Singaporean seafarers, adding it has been facilitating the return of Singaporean seafarers who wish to sign off when their ships call at Singapore.
MPA and the Singapore Maritime Officers’ Union (SMOU) will roll out a relief package for eligible seafarers who are unable to secure shipboard employment between 1 May to 31 Jul 2020. Seafarers can apply to receive up to S$800 (US$560) per month in financial assistance. Seafarer associations will also receive a one-off increase of S$50,000 (US$35,000) to MPA’s annual contribution of S$150,000 (US$106,000) to these missions.
MPA chief executive Quah Ley Hoon said the relief package aims “to provide targeted support for maritime companies, individuals and seafarers.”
Ms Hoon added “MPA also hopes to take this opportunity to accelerate the transformation of Maritime Singapore for the future. I am confident that this will better position Maritime Singapore for the new normal post Covid-19.”
Singapore is among the countries most affected in southeast Asia by the fallout from the global pandemic.
Riviera will host a series of free to attend 45-minute webinars on subjects ranging from maritime propulsion to vessel optimisation, ballast water management and maritime air pollution among many others commencing 5 May 2020. Find a list of the webinars and register your interest now