Singapore encourages double-hulled tankers
The Maritime and Port Authority of Singapore has unveiled a number of initiatives designed to encourage bunker tanker owners to adopt the operation of double-hulled tankers.
Lim Hwee Hua, Minister of State for Finance and Transport, announced the measures in the Singapore parliament Thursday. They include a port dues waiver for new double-hulled bunker tankers that are first licensed between March 15 and March 31, 2008, for a period of five years. Basing its calculations on current fleet renewal forecasts, the authority estimates a savings of about S$1 million ($614,785) to the bunkering industry.
To deter bunker tanker owners from continuing to operate old single-hulled bunker tankers, the authority said it will also remove the 50 percent port dues surcharge cap for bunker tankers that are 20 years old and above.
Besides the port dues waiver, the authority said it will also extend the pilotage exemption for bunker tankers from the current 5,000 gross tons to 7,000 gross tons.