Singapore to Raise Port Dues Rates From January 2022

By Martin Mou

Singapore will raise its port dues rates in two phases starting January next year, the Maritime and Port Authority of Singapore said Thursday.

During phase one--effective from Jan. 1, 2022--vessels calling inro Singapore with port stays between two and four days will pay dues that will be around 6% higher, the agency said.

All vessels that stay in port for one day or less won't have to pay any rate increases until phase two, which starts from Jan. 1, 2023, MPA said.

The revision is aimed at funding the increased costs of operating and maintaining Singapore's port and also to free up limited space to serve more vessels by encouraging faster turnarounds.

Write to Martin Mou at [e-mail]

(END) Dow Jones Newswires

04-08-21 0410ET