The Maritime and Port Authority of Singapore (MPA) has announced a robust financial assistance program known as the MaritimeSG Together Package, amounting to approximately $27 million, aimed at supporting the maritime industry in response to the socioeconomic challenges posed by the COVID-19 pandemic. This initiative, effective from May 1, 2020, encompasses a variety of provisions designed to aid maritime companies and Singaporean seafarers.
Financial Support for Companies:
To assist vessel owners and cargo operators, the MPA is providing a 30% concession on port dues, augmenting existing concessions, for cargo vessels with port stays of up to five days from May 1 to December 31, 2020. In cases where offshore vessels require support, there’s a 50% concession for those docked between days 91 and 180. Additionally, non-passenger carrying harbor craft will also benefit from the same 30% concession during this timeframe. For regional ferry operators, a rebate on counter rental and overnight berthing at the Tanah Merah Ferry Terminal will rise to 50%, a significant increase aimed at alleviating financial strains.
Financial Support for Training:
In recognition of the need for workforce development, MPA will introduce new manpower schemes and enhance co-funding for existing Maritime Cluster Fund initiatives from May to December 2020. A notable introduction is the Maritime Cluster Fund-Internship Reimbursement Scheme, which incentivizes maritime companies to offer internship opportunities to Singaporean students from educational institutions like the Institute of Technical Education and various local universities. MPA will cover 50% of the internship allowances, up to $500 per month for each intern, for a duration of six months.
Financial Support for Seafarers:
To further support those on the frontlines, MPA, in collaboration with the Singapore Maritime Officers’ Union (SMOU), has rolled out the Seafarers Relief Package. Eligible seafarers who cannot secure employment between May 1 and July 31, 2020, can apply for financial assistance of up to $800 per month. NTUC President Mary Liew expressed appreciation for the MPA’s proactive efforts and emphasized the necessity of joint actions to mitigate the financial impacts on seafarers during this unprecedented crisis.
The MaritimeSG Together Package reflects a comprehensive approach to supporting the maritime sector, emphasizing training and transformation to prepare for the challenges of post-pandemic recovery. By addressing financial strains on companies and providing targeted support for seafarers, the MPA aims to bolster resilience and enhance the capabilities of Singapore’s maritime workforce. The initiative signifies a commitment to ensuring a sustainable maritime industry while safeguarding the interests of those employed within it.
