Singapore extends financial support package for affected maritime sectors

Namely, MPA Singapore will extend relevant measures under the package to 30 June 2021, bringing the cumulative amount of support to S$33 million.

As explained, the MaritimeSG Together Package will be extended to continue supporting the more affected sectors in the maritime industry to tide through this COVID-19 pandemic.

To remind, the package was first launched in May 2020, in an effort to offer support for companies, individuals and seafarers during the pandemic. The various relief measures in the existing package are set to expire after 31 December 2020.

As MPA Singapore noted, the support measures being extended include:

  1. Support for passenger-carrying vessels and passenger terminal operators i.e. SATS-Creuers Cruise Services Pte Ltd and Singapore Cruise Centre (Private) Limited (SCCPL);
  2. Support for offshore vessel operators;
  3. Extension of credit terms for maritime companies;
  4. Manpower and productivity support schemes for maritime companies and individuals; and
  5. Support for local seafarers

The COVID-19 pandemic has brought about unprecedented disruption to the global economy, affecting businesses, jobs and individuals. MPA recognises the continued challenges faced by some in the maritime industry, and is committed to support maritime companies, individuals and Singaporean seafarers through the extension of our relief measures so that Maritime Singapore can continue to remain resilient.

….said Ms Quah Ley Hoon, Chief Executive of MPA.

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