MPA Singapore has carried out a review, announcing that it extends port rebates, aiming to encourage growth in the vehicle transhipment business in Singapore. The scheme will be valid for another 3 years from 1 January 2020 till 31 December 2022.
According to the scheme, port dues rebate will be granted to vehicle carrier operators’ vessels handling transhipment vehicles in Singapore with a port stay of not more than 5 days as follows:
- Less than 10,000 transhiped vehicles in Singapore per year: 10% port dues rebate if a minimum compound annual growth rate (CAGR) of 5% over base year1 is achieved. No rebate if growth condition is not met;
- Between 10,000 and 200,000 transhiped vehicles in Singapore per year: 20% port dues rebate if a minimum CAGR of 2% over base year is achieved; otherwise 10% port dues rebate;
- More than 200,000 transhiped vehicles in Singapore per year: 20% port dues rebate if positive CAGR over base year is achieved; otherwise 10% port dues rebate.
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The vehicle carrier operator will not have the right to the rebate during any year that it does not comply with the conditions of the scheme.
Vehicle carrier operators that meet the requirements of the scheme for the year under review should complete and submit the attached application form to MPA by 30 April of the following year.