Senior Minister of State, Prime Minister's Office, Ministry of Foreign Affairs & Ministry of Transport, Mrs Josephine Teo,

Distinguished guests,

Ladies and Gentlemen,

A very good evening to you

2.     I am pleased to see all of you here tonight as we celebrate yet another maritime milestone; the Singapore Registry of Ships’ 50th Anniversary. 

3.     I would like to take this opportunity to thank the shipping community for the strong support given to the birth of the Singapore Registry of Ships; and its development into a reputable, quality flag administration as it is today. I look forward to your continued commitment towards the Singapore Ship Registry or SRS in short. 

4.     SRS’ roots began right here in this building when it was first established in 1966 under the Marine Department. The strategy then was to address high unemployment rates in Singapore by creating seafaring jobs for Singaporean seafarers. The conditions for ship registration under the Singapore Flag were made liberal so that we could compete for tonnage.

5.     The SRS saw exponential growth through the 1970’s and we made our first mark in the world ranking as the 21st largest ship registry in 1973 with 985 vessels. 

6.     With growing international opposition to Flags of Convenience and Singapore facing labour shortage, we made the concerted effort to be recognised as a quality Flag Administration to complement the development of Singapore as an International Maritime Centre (IMC). 

7.     Since then, SRS has grown both in fleet size and reputation. We grew steadily to become the 5th largest registry in the world today, with a fleet of over 4,700 vessels aggregating over 87 million Gross Tonnes. Tonight, we will recognise the vessels that have helped us respectively achieved the 86th and 87th million Gross Tonnes milestones of SRS.

8.     I am glad to have here tonight several pioneers of the Registry. Thank you for navigating into new arenas then, for all your hard work and contribution to the Registry’s success it has today. 

9.     Besides our pioneers, I would also want to acknowledge our shipowners who entrusted their fleet under the Singapore Flag, for their support and partnership. Our status as the fifth largest registry would not have been possible without the faith and support of the shipowners.

10.     Other than registering tonnage with us, the shipowners have also been supportive towards efforts in growing Singapore as a leading International Maritime Centre and green initiatives such as the Maritime Singapore Green Initiative. 

11.     This voluntary programme garnered strong support from the maritime industry since its inception in 2011. With its extension and introduction of new programmes in June, I foresee our maritime industry scaling greater heights in environmental sustainability practices and achievements. 

12.     I would also like to take this opportunity to congratulate eighty-four (84) ships that are newly enrolled under the Green Ship Programme, and to the new eight companies that have just signed the Green Pledge. We will be awarding certificates to these ships and companies later this evening. 

13.     The SRS has truly come a long way and achieved much in the fifty years, but our work doesn’t stop here. With a large fleet hoisting the Singapore flag, the SRS recognises that maintaining high shipping standards and low detention records in the major Port State Control regimes are critical for the reputation and attractiveness of our ship registry. We will continue to engage and work hand in hand with our stakeholders for the maritime businesses in Singapore to thrive. 

14.     On the manpower front, we are also pleased to announce that we will be providing additional cadet berth relief support to support the intake of Singaporean Cadets. The extra two hundred dollars per cadet would be on top of the existing monthly reimbursements given under the Maritime Cluster Fund. 

15.     We hope that this would encourage more Singaporean youths to embark on a seafaring career. Tonight, we will also recognise companies that have supported Singapore’s seafaring manpower pipeline over the years with a small token of appreciation. Thank you for your commitment towards Singapore’s seafaring manpower development.

16.     The shipping industry is a highly cyclical business and Singapore has weathered previous cycles and emerged leaner and stronger each time. As a nation built on maritime and international trade, Singapore is facing the next lap of multi-faceted challenges which we will overcome with forward thinking and resilience.

17.     I can confidently commit to you that MPA will continue supporting and working with the industry to build new capabilities and future ready skill sets to capitalize on new opportunities when the upturn comes. I look forward to us celebrating an industry that is once again sailing with tailwinds.

18.     Thank you.

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