The importance of the Singapore free port hails back to its early days as a strategic international trading settlement.
(PRWEB) November 04, 2011
Singapore is now not only the busiest port in the world in terms of total shipping tonnage, but has also been named the best port in Asia. The importance of the Singapore free port hails back to its early days as a strategic international trading settlement, says Singapore company registration specialist Rikvin Singapore.
According to local publication TODAY, New York was ranked first on the poll with 20 per cent of cruisers saying it was their favourite stop-off. Venice followed with 13 per cent and Barcelona, Rome and Singapore rounded off the top five with 7 per cent of the votes each. Singapore was also the only Asian entry in the top five ports.
"The throughput of British cruise passengers to Singapore has increased by 40 per cent over the past two years. With the doubling of capacity in Singapore next year and some new initiatives that we have launched recently, we hope to attract more cruise passengers from all over the world," said Christina Siaw, CEO of Singapore Cruise Centre.
The Maritime and Port Authority of Singapore (MPA) is the administrative body that oversees Singapore’s role as a premier global hub port, as well as advancing and safeguarding Singapore's strategic maritime interests. MPA takes on the roles of Port Authority, Port Regulator, Port Planner and National Maritime Representative.
Singapore is strategically located along the confluence of major global shipping routes and is a world leader in terms of shipping container volume.
Besides offering reliable and efficient cargo handling, Singapore is also one of the top bunkering ports in the world, lifting about 30 million tonnes of bunkers annually. A wide range of essential marine services are also available, including pilotage, towage, fresh water supply, crew changes, ship supplies and slop disposal.
The Singapore government also extends attractive incentives to shipping companies, such as the Maritime Cluster Fund Course Fee Subsidy (MCF-CFS) which subsidies up to 60 per cent of course fees for certifiable training based on written examinations.
Major reputable international shipping groups from leading maritime countries have made Singapore their shipping hub for Asia. As a result, Singapore’s maritime sector is an important part of its economy, comprising of more than 5,000 maritime establishments such as the Mediterranean Shipping Company and Maersk.
Although a highly lucrative industry, setting up a maritime company is a complicated and administratively lengthy process, with a high risk of rejection from the smallest error in paperwork.
This risk is further compounded if the interested entity happens to be foreign and unfamiliar with local business policies. Company registration specialists such as Rikvin Singapore assist such parties by handling the entire registration process from beginning to end.
Rikvin offers business solutions for both local and foreign investors and entrepreneurs. The firm’s specialties include company registration services, offshore company setup and other related corporate services. Rikvin also provides professional services on accounting, taxation, immigration and application of Singapore work visa for foreign workers to work and relocate in Singapore. For enquires on setting up a maritime company, visit our website at http://www.rikvin.com/.
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
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