The Maritime Port Authority of Singapore has announced plans to delay the scheduled increase in port dues on old bunker tankers to help shipping companies through the current financial crisis.
The deferment will help more than 100 bunker tankers MPA said. As part of an effort to grow a younger, more efficient and greener fleet of tankers in Singapore's port, in March this year, MPA intended to introduce a 5% increase in the duties on tankers that have been in operation for 16 years or more to 15% - originally intended to take effect from 1 Jan 2009. This duty increase is aimed at discouraging the operation of older tankers on the premise that they are a higher risk to the marine environment and also less efficient. This has now been deferred a year to Jan 1, 2010. 'We hope this deferment will contribute towards helping the industry adjust to the changing business climate,' MPA's group director (Hub Port) Captain M Segar said.
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