The Marine Sector in Singapore

Shipping in Singapore Strategic network of shipping lanes 1/7 of the world’s container transhipment 200 shipping lines to 600 ports in 123 countries Global leaders in shipping finance, shipbroking, risk management and marine insurance Singapore has been a centre for international trade for over 200 years being ideally positioned between the traditional east-west trade routes. Singapore’s maritime industry employs more than 100,000 people, both based onshore and on ships. Major charterers, ship owners and brokers base their commercial activities in Singapore Home to about 130 of the world’s top shipping groups

The Port of Singapore Port of Singapore's gross tonnage will grow by 3.2% in 2014 and will expand at the same average rate over our medium-term forecast period to 2018.* Port of Singapore box handling set to grow by 3.0% in 2014, with average annual growth set at 3.6% per-annum over the medium term.** Singapore is the busiest port in the world in terms of shipping tonnage, with some 120,000 vessel calls annually. The quality, efficiency, competitiveness and reliability of its port and shipping services make it the preferred international port of call.

Ship building and Repair Ship repair in Singapore dates back to when the first dry dock was built in Singapore operates the most technically advanced and efficient shipbuilding and ship-repair facilities in Southeast Asia Currently, it holds about 70% of the world's jack-up rig-building market and over 65% of the global floating production storage and offloading (FPSO) conversion market. Singapore ship repairing has gained international recognition for its specialised re-construction jobs, which range from conversion to jumboisation. Projects include the conversion of car carriers to livestock carriers and tankers to FPSOs, just to name a few. Vessels built include cableships, container vessels, product tankers, naval ships, landing ship tanks and patrol crafts.

Marine Supporting Industry Small to medium-sized workshops to comprehensive factory facilities. Many overseas manufacturers have also set up local agencies for their own manufacturing, sales and services facilities Comprehensive range of marine services in various industries such as; electronics communication navigation, automation precision machining, and corrosion control. Numerous factories manufacturing or servicing marine equipment and components such as diesel engines and turbochargers. Other services available include ship design and consultancy, marine inspection and surveying.

Bunkering Support Bunkering is the process of supplying fuels to ships for their own use Singapore is also one of the top bunkering ports in the world, lifting about 30 million tonnes of bunkers annually. Singapore has implemented bunkering standards, covering; documentation, equipment, procedures, quality of bunker fuel supplied The Marine and Port Authority of Singapore (MPA) has implemented accreditation schemes for bunker suppliers and bunker surveying companies with the aim of recognising good practices and deterring malpractice in the bunker supply industry.

MPA Incentives MPA has in place a growing number of incentives and initiatives to help both new and existing players develop their business. Maritime Sector Incentive (MSI) scheme MSI-Approved International Shipping Enterprise (MSI-AIS) Award MSI-Maritime Leasing (MSI-ML) Award MSI-Shipping-related Support Services (MSI-SSS) Award We have produced a shipping and logistics factsheet which gives details of these incentives schemes Withholding tax exemption on interest payable on loans obtained from foreign lenders to finance the purchase or construction of ships Withholding tax exemption on interest and related payments on loans obtained from foreign lenders to finance the purchase of containers and intermodal equipment Maritime Cluster Fund (MCF)

MULTIPLE R&D LINKS BETWEEN ACADEMIA AND INDUSTRY Technology is a key driver for the marine engineering sector. Singapore actively promotes R&D collaboration between its educational institutions and the private sector. Centre for Offshore Research & Engineering and Centre of Innovation – Marine & Offshore Technology. both the Marine Centre of Singapore Polytechnic and Maritime Research NTU work closely with local yards, such as Keppel, SembCorp, and ST Marine, to develop new capabilities.

UK based firms in Singapore Hill Dickinson Martek Marine Clyde Marine Recruitment Pacific Carriers Limited DPM (Singapore) Pte Ltd Braemar Seascope OSD Singapore Pte. Ltd Evergreen Marine