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Singapore extends port dues concessions

Singapore extends port dues concessions

Singapore: The Singapore authorities are extending port dues concessions brought in to help companies through the economic crisis for another six months. A 10% port dues concession for all ocean-going ships with a port stay of not more than 10 days and 20% port dues concession for harbour craft engaged in commercial activities within Singapore port waters is to be extended from 1 April 2010 to 30 September 2010. The concessions were introduced last year over and above longstanding existing measures to help shipping companies through the economic crisis. "MPA remains committed to the maritime industry and will continue to consult and work closely with industry partners to help them adapt to the changing business climate," said Lam Yi Young, chief executive of the Maritime & Port Authority of Singapore. "The extension of port dues concession will help the shipping industry to lower business costs and boost Singapore's attractiveness as a hub for maritime businesses." [12/03/10]

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