Maritime Cluster Fund (MCF)
Introduced by the Maritime and Port Authority of Singapore (MPA), the Maritime Cluster Fund (MCF) facilitates the growth of Singapore's maritime cluster by supporting the industry's manpower and business development efforts as well as its drive for productivity improvements. There are three key components under MCF. The MCF-Manpower Development co-funds maritime companies in the development of manpower, training initiatives and capabilities. The MCF-Business Development supports eligible expenses incurred in the initial development of new maritime companies and organisations setting up in Singapore, or existing maritime companies and organisations expanding into new lines of maritime businesses. The MCF-Productivity supports initiatives by the maritime industry that will lead to productivity gains.
MCF-Manpower is available for the development of manpower, training initiatives and capabilities within the maritime industry. Accessible to companies and company-supported individuals within the maritime sector, the fund focuses on developing and enhancing the pertinent skills of employees.
(A) Training@MaritimeSingapore: To upgrade knowledge and expertise of local maritime personnel through attending MPA-approved training programmes. Examples of supportable activities include:
- External Training - Short Courses and Certifiable Courses: To encourage maritime enterprises to send their staff to attend approved training programmes by providing training grant [New: With effect from 1 June 2016, MPA will also be increasing co-funding support up to 90% for selected short courses and certifiable courses. Please refer to Section (D) below for more details.]
- In-house Training: To encourage maritime enterprises to provide in-house training to employees
(B) Talent@MaritimeSingapore: To encourage companies to invest in the development of expertise through attachments and career development programmes. Examples of supportable activities include:
- Industry Attachment: To encourage maritime enterprises to invest in the development of expertise through industrial attachment conducted in local or overseas offices
- Overseas Attachment: To encourage maritime enterprises to offer overseas attachment opportunities to staff, to acquire specific skills or exposure to market knowledge
- Management Associates: To support grooming of local talent for management and leadership positions
(C) InvestManpower@MaritimeSingapore: To encourage maritime enterprises and industry associations to adopt well-structured HR and training infrastructure, tools and processes so as to attract, train and develop their talent pool.
- Industry/Strategic-level Development: To encourage maritime enterprises or industry associations to work together to attract talents and improve Singapore's maritime workforce capabilities. These manpower development initiatives could bring about industry-specific benefits or national-level benefits to Singapore's growth as an International Maritime Centre
- Enterprise-specific Development: To encourage maritime enterprises to establish good HR practices/tools and establish training infrastructure
(D) Maritime Manpower Schemes Announced in April 2016 (NEW): In April 2016, MPA announced that it will be setting aside S$12 million under MCF-Manpower Development to attract, develop and retain local talent (Singaporeans and Permanent Residents) in the maritime sector. Some of these new measures include:
- Enhanced Co-Funding under MCF-Manpower: To support maritime enterprises in the development of manpower, training initiatives and capabilities, co-funding support for selected training activities will be increased up to 90 per cent for selected training or courses
- Internship Reimbursement Scheme: To encourage maritime enterprises to continue providing local students from selected maritime courses with internship opportunities. MPA will co-fund the internship allowances of these students, up to S$400 per month for a maximum period of 6 months
- Maritime Career Conversion Scheme: To help locals re-skill and take on quality jobs in the maritime industry. MPA will provide co-funding support for fresh graduates and mid-career entrants with no maritime background to undergo a structured training programme to enhance their employability in selected maritime jobs in the port, shipping and maritime sectors
For more details on the new maritime manpower schemes, please refer to MPA’s Press Release issued on 12 April 2016.
MCF-Business Development is available to support eligible expenses incurred in the initial development of new maritime companies and organisations setting up in Singapore, or existing maritime companies and organisations expanding into new lines of maritime businesses, including the setting up of Research and Development Test Centres. MCF-Business Development is a co-funding grant scheme available to maritime players which are committed to grow and succeed in Singapore.
MCF-Productivity is available to support initiatives which raise productivity by way of enhancing business processes and work-flow; or by adopting technology solutions which lead to productivity gains. Ship owners and operators, technical and commercial maritime service providers, maritime-related industry associations as well as technology and engineering companies with a maritime focus may apply for the MCF-Productivity.
Approval of any application to the above MCF schemes is subject to fulfillment of the relevant qualifying criteria.
For more information on the Maritime Cluster Fund and how you can benefit, please contact the MCF Secretariat:
Ms Lindy Sim, Tel: (+65) 6375 1623
Ms Bernice Chey, Tel: (+65) 6375 1923
Ms Susan Gan, Tel: (+65) 6375 1922
- Setting Up in Singapore
- Setting Up Your Maritime Business in Singapore
- Applying for Employment Passes
- Registering a Ship
- Programmes to Support Your Maritime Business
- Maritime Sector Incentive - Approved International Shipping Enterprise (MSI-AIS) Award
- Maritime Sector Incentive - Maritime Leasing (MSI-ML) Award
- Maritime Sector Incentive - Shipping-related Support Services (MSI-SSS) Award
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase or construction of ships
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase of containers and intermodal equipment
- Developing Manpower
- Developing Infocomm Technology Capability
- Research & Development
- Grants and Incentives
- Latest Happenings
- Industry Partnerships
- Innovation Showcase