Mr Lim Teck Cheng, Chief Executive, Hong Lam Marine
Mr Kiyoshi Furubayashi, Executive Vice President, Toyota Tsusho Corporation
Distinguished guests,
Ladies and gentlemen,
1.Good Evening. My wife and I are honoured to be here today to witness the christening of the bunker tanker, Spectrum.
2.First, let me congratulate Hong Lam Marine and Toyota Tsusho Corporation on the christening of Spectrum, the largest purpose built bunker tanker in the world.
3.It is indeed fitting for the world's largest purpose built bunker tanker to launch and to operate in Singapore, the world's top bunkering port. In 2008, a record 34.9 million tonnes of bunker was sold in Singapore. In the first five months of this year, despite the economic downturn, bunker sales in Singapore registered a growth of 2.6 percent over the same period in 2008. In fact, just last month, Singapore registered bunker sales of 3.23 million tonnes, the highest ever recorded in a single month.
4.These good results and the strong growth in the industry are possible only because of the strong partnerships that we have within the maritime and bunkering industry in Singapore. Over the years, MPA, as the regulator, has been working closely with the industry and other stakeholders to ensure the quality of bunker supplied in Singapore and the safety of bunkering operations in Singapore. To us, quality and safety are as important, if not more important, than the volume of bunker sales.
5.Similarly, the features of Spectrum do not just lie in its size. In terms of safety, Spectrum has not only fulfilled the double hull tanker requirements under the International Maritime Organization���s MARPOL Convention, it has also met MPA's stringent licensing requirements for new bunker tankers operating in our port.
Fleet Renewal Drive
6.MPA is committed to ensuring that the Port of Singapore remains safe, efficient and environmentally-friendly despite being the world's busiest container port and the world's top bunkering port. Specific to bunkering operations, MPA has in place various measures and incentives to promote a young and eco-friendly fleet of bunker tankers in our port and to gradually phase out older single-hulled bunker tankers.
7.These measures include the Gate System for the licensing of port limit bunker tankers and pilotage exemption limits that cater to the needs of newer and larger double-hulled bunker tankers. Last year, MPA extended the cut-off date for new double-hulled bunker tankers to enjoy five-year waiver of annual harbour craft port dues from April 2008 to March 2011. Such initiatives encourage the industry to move towards a newer tanker fleet to further raise Singapore's bunker service quality.
8.I am glad to note that there are now 52 double-hulled bunker tankers operating in the Port of Singapore, compared to only one when we first started the fleet renewal drive four years ago.
9.Today's christening of Spectrum is very much in line with our fleet renewal efforts and I would like to thank Hong Lam Marine and Toyota Tsusho Corporation for contributing to the fleet renewal efforts. I would also like to urge other bunker tanker owners to take advantage of the various incentives that MPA has in place to renew their fleet.
Financial Assistance Scheme for Bunker Surveying Companies
10.Besides encouraging the renewal of the bunker tanker fleet in Singapore, MPA has also worked with various stakeholders to improve the quality of bunkers and bunkering operations in Singapore. We are one of the few countries in the world with national standardisation and accreditation programmes for the bunkering industry. I am sure most of you are familiar with standards such as the SS524 and SS600, as well as the Accreditation Scheme for Bunker Suppliers.
11.Over the past two years, MPA has engaged in extensive discussions with the Singapore Shipping Association and the bunkering industry on how we can further improve bunker surveying practices in Singapore. Bunker surveyors play a key and independent role in the bunker supply chain in ensuring both quality and quantity of bunker sales. We currently have some 230 licensed bunker surveyors working in over 70 bunker surveying companies in Singapore.
12.Following the discussions, MPA and the Singapore Accreditation Council embarked on a plan last year to get bunker surveying companies accredited under the Accreditation Scheme for Inspection Bodies. From 1 Jan 2010, all bunker surveyors will need to be employed by companies that are accredited under this Scheme. A formal and structured accreditation process such as this will enhance the accountability and professionalism of bunker surveying companies, and also raise the standards of surveying practices.
13.MPA is mindful that getting accredited under the Accreditation Scheme involves some costs, which may be of particular concern during the current economic situation. However, the Accreditation Scheme is an important initiative for the bunkering industry and is something that we should press on with despite the economic situation.
14.To help bunker surveying companies meet the 1 Jan 2010 timeline for accreditation, I am pleased to announce that MPA will be offering a one-time financial assistance scheme to defray part of the cost of accreditation. Qualifying bunker surveying companies who are undergoing accreditation can apply to MPA for reimbursement of up to 30 percent of the cost of accreditation. I hope that the financial assistance scheme will be useful to bunker surveying companies and I urge them to make use of the scheme to get accredited as soon as possible.
15.I have briefly outlined various measures and initiatives that we have in place to develop the bunkering industry in Singapore. The bunkering industry in Singapore has grown significantly over the past few years and I am confident that with the various stakeholders working together in partnership, the bunkering industry in Singapore will continue to grow in the years to come.
Conclusion
16.Finally, let me once again congratulate Hong Lam Marine and Toyota Tsusho Corporation on the launch and christening of Spectrum. I wish them every success in Spectrum's operations in Singapore.
17.Thank you.
