Singapore to cut oil-rig dues

PUBLISHED : Friday, 28 August, 1998, 12:00am
UPDATED : Friday, 28 August, 1998, 12:00am

The Maritime and Port Authority of Singapore will cut port dues for oil rigs from September 1 to make the port more attractive as an offshore repair, building and upgrading centre.

Some dues will be slashed by more than 50 per cent. Oil rigs which include jack-up rigs, drill ships and semi-submersible rigs will pay the same port dues as other vessel types and drill ships and semi-submersibles.

The move is expected to boost Singapore's competitive position as a repair centre through an expected increase in repair, refurbishment and upgrading work.