Ship Finance in Singapore
The Singapore Maritime Foundation (SMF) formed the Ship Finance Work Group in 2004. Currently chaired by Mr Erik Borgen, SMF Board Member, the group provides additional impetus towards the development of Singapore as an international maritime finance hub.
The SFWG’s broad objective is to encourage more ship finance activities in Singapore. To accomplish this mission, more financial options and professional financial players must be made more available in Singapore to support shipping activities.
Financial Schemes and Incentives
MPA offers maritime and related companies a growing range of schemes and incentives to help both new and existing players develop their business.
- Approved International Shipping Enterprise (AIS) scheme
The Approved International Shipping Enterprise (AIS) scheme offers considerable tax advantages to attract international ship-owning and ship-operating companies to establish their operations in Singapore.
- Approved Shipping & Logistics (ASL) scheme
The Approved Shipping Logistics (ASL) scheme offers a competitive tax advantage to companies providing freight and logistics services from Singapore.
- Maritime Finance Incentive (MFI) scheme
The Maritime Finance Incentive (MFI) scheme encourages companies to use Singapore as their capital and funding base to finance both their maritime vessels and sea containers.
- Maritime Cluster Fund (MCF)
The Maritime Cluster Fund and how it can benefit you, your company and your staff training
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to learn more about these schemes offered by the MPA.
Shipping Trusts provide structured financing solutions to shipping companies, thereby generating visible and stable cashflow stream through long-term charters. There are three Shipping Trusts listed on the Singapore Exchange:
Pacific Shipping Trust
First Ship Lease Trust
Rickmers Maritime Shipping Trust