In his opening address to Singapore Registry of Ships (SRS) Forum, the minister said the SRS notations will recognise ships for 'doing well in four key areas': Smart, cyber, welfare and green, and will be introduced from November 1 for Singapore-flagged vessels that fulfil the requirements of each category and will be issued with a certificate of recognition.
Mr Chee hailed the SRS as 'the first ship registry in the world to introduce such an accreditation system, which recognises ship owners and operators that adopt new solutions to be ready for the future'.
The new SRS notations are being rolled out by the Maritime & Port Authority of Singapore (MPA). The smart notation will be awarded to vessels adopting digital solutions to improve safety and operations; the cyber notation for vessels that have adopted advanced cyber security measures; the welfare notation for vessels with good infrastructure and welfare amenities; and the green notation for vessels that have implemented solutions to reduce their carbon emissions.
'Singapore-flagged vessels that qualify for the SRS Green Notation will receive additional benefits, such as a reduction in their Initial Registration Fees and rebates on their Annual Tonnage Taxes,' said Mr Chee. 'MPA plans to roll out these incentives for awardees of the SRS Green Notation.'
He added that the authorities were considering incentives for other notations in future. Singapore aims for the notations to be universally recognised and the MPA is engaging major charterers to consider vessels with the notation more favourably.
'We will work closely together with our industry and union partners to further develop and grow this initiative,' the minister said.