Singapore is withdrawing port dues concessions to support the deployment of floating storage regasification units and floating storage units for LNG bunkering and breakbulk activities.

The discount, which had been due to run until December 2024, has been removed with immediate effect, the Maritime and Port Authority of Singapore (MPA) said in a port circular.

Qualifying vessels, either newbuildings or those part of an existing fleet, enjoyed a 50% harbour craft port dues concession of up to $600,000 annually for five consecutive years.