MPA pumps in SGD 12 million more to promote Singapore’s LNG bunkering

The Maritime and Port Authority of Singapore (MPA) has injected another SGD 12 million to boost LNG bunkering in the Port of Singapore. Reportedly, half the amount has been set aside to co-fund the building of new LNG bunker vessels in order to facilitate the development of ship-to-ship LNG bunkering in the Port of Singapore; while the other half will be used to facilitate MPA’s existing co-funding programme to support the building of LNG-fuelled vessels. The MPA in September 2015 had launched an SGD 12 million co-funding programme to support the building of LNG-fuelled vessels. It had allowed for co-funding of up to SGD 2 million per vessel. Given the fact that the Singapore Government has set 2020 as its target to be “LNG bunker ready”, the MPA has ramped up efforts in recent years to take the lead in LNG bunkering. Applications for funding from the new fund to build LNG bunker vessels are currently open.