New Awards Presented At Singapore International Maritime Awards 2006
Five new awards were introduced at this year's Singapore International Maritime Awards (IMA) to honour individuals and companies that have made outstanding contributions to Singapore's development as an International Maritime Centre. These new awards together with the Approved International Shipping Enterprise (AIS) and Approved Shipping Logistics Enterprise (ASL) awards were presented by Guest-of-Honour Mr Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs at the Shangri-La hotel this evening. Minister Lim also presented awards to first-time recipients of the new Maritime Finance Incentive. Attending the annual gala dinner were some 700 guests from both the local and overseas maritime community.
Recipients of the New Award Categories
The new International Maritime Awards recognise the unstinting support of maritime partners who have helped advanced Singapore as a leading maritime hub. They were presented to the following corporate recipients:
i. International Maritime Centre Award (Corporate)
Pacific International Lines Pte Ltd
ii. Bunker Award
ExxonMobil Marine Fuels
iii. Outstanding Maritime R&D and Technology Award
NewEarth Pte Ltd
iv. Excellence in Training Development Award
NYK Shipmanagement Pte Ltd; and
v. Singapore Registry of Ships’ Owner of the Year Award
Neptune Orient Lines Ltd
A special International Maritime Centre (Individual) Award was also presented to Tan Sri Frank Tsao by Minister Lim, who has contributed significantly to developing the maritime services sector in Singapore. As founder and Chairman of International Maritime Carriers Limited, he moved its bulk shipping operations to Singapore in the early nineties. Since then, he has been instrumental in developing Singapore's Approved International Shipping Enterprise (AIS) Scheme and the establishment of the NUS Centre for Maritime Studies in 2005.
The Maritime and Port Authority of Singapore (MPA) invited nominations from the maritime industry for these IMAs in April this year. At the close of the nomination round in August, the MPA received some 100 entries of reputable companies and individuals across the range of categories. As part of the judging process, at least three nominees were short-listed for each award category. The final award winner was selected unanimously by a distinguished judging panel comprising both public and private sector representatives.
Maritime Finance Incentive Awards
To promote the development of ship financing activity and encourage the use of structured financing alternatives in Singapore, the Maritime Finance Incentive (MFI) scheme was launched in February this year by the MPA. Since its launch, the first shipping trust by Pacific International Lines has been successfully listed on the Singapore Stock Exchange in May this year.
To date, another three companies namely, Uni-Asia Capital (Singapore) Ltd, Tailwind Shipping Pte Ltd and First Ship Lease Pte Ltd, have also tapped on the attractive tax benefits of this scheme. All four companies were presented with the MFI award this evening.
Approved International Shipping Enterprise and Approved Shipping Logistics Schemes
This year, a total of 18 companies were awarded the Approved International Shipping Enterprise (AIS) status with another two companies receiving an extension of their AIS status. The AIS was established to encourage international ship-owning and ship-operating companies to set up operations in Singapore.
A total of three companies received the Approved Shipping Logistics Scheme (ASL) status in 2006. The ASL seeks to encourage companies to undertake more ship management, ship agency or shipping logistics activities in Singapore, thereby increasing the breadth and depth of the maritime ancillary services in Singapore.
To date, 80 reputable shipping groups have made Singapore their shipping hub for Asia.
Collectively, the AIS and ASL companies generated over S$2.6 billion in business spending in Singapore last year.
The Singapore International Maritime Awards is one of the major events under the inaugural Maritime Week 2006. The week of maritime events brings together key personalities from all over the world to meet and network, generating more buzz for the maritime industry. Maritime Week will be held annually and in time to come, seeks to be firmly established as a major event in the international maritime calendar.
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Note to Editors:
ABOUT MPA
A Decade of Maritime Excellence
The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996, as a statutory board under the Ministry of Transport. Over the past decade, its roles have grown beyond that of growing the key functions of developing Singapore as a premier global hub port. In 2003, it was entrusted to be the champion agency to spearhead Singapore's development as an International Maritime Centre (IMC). The MPA also plays a part in safeguarding Singapore's strategic maritime interests.
ABOUT MARITIME WEEK (25 - 29 Sep)
Maritime Week 2006, an initiative by the Maritime and Port Authority of Singapore (MPA), brings together leading players from the maritime industry, to discuss current developments and issues facing the industry.
The diverse range of events to be presented will cater to core maritime sectors such as shipping, port, bunkering as well as maritime policy and business services. These forums and conferences will be complemented by networking platforms including gala award dinners and receptions throughout the week.
To find out more about Maritime Week 2006, please log on to www.mpa.gov.sg.
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Attached:
Opening Remarks by Mr Peter Ong, Chairman, Maritime and Port Authority of Singapore
Speech by Mr Raymond Lim Minister for Transport and Second Minister for Foreign Affairs