Ship Owners New to SRS
Established in 1966, the SRS has than 50 years of experience and is currently managed by the Maritime and Port Authority of Singapore (MPA).
The SRS is the administration responsible for executing the proper registration of ships sailing under the Singapore Flag and ensuring that ships and owners meet the stringent criteria that entitle their ship to obtain Singapore nationality.
With a large fleet flying under the Singapore flag, the SRS recognises that maintaining high shipping standards in terms of safety of operations and marine pollution prevention, and low detention records in the major Port State Control (PSC) regimes are critical for the reputation and attractiveness of its ship registry. The SRS is on the “white list” of two major PSC regimes – the Tokyo and Paris Memorandum of Understanding (MOU) and has also qualified for the United States Coast Guard (USCG)'s Quality Shipping for the 21st Century (or QUALSHIP 21) programme. Singapore is party to all the major International Maritime Organization (IMO) conventions on ship safety and marine pollution prevention. These conventions have been enacted in our legislations so that MPA can effectively implement these IMO regulatory instruments.
Why Choose the Singapore Flag
As Singapore’s efficient infrastructure and business-friendly environment continues to attract ship owners worldwide, we have built up a reputation of being an efficient, proactive and responsive administration.
Beyond tax advantages and financial incentives, owners of Singapore-registered vessels can rest assured that they are working with a high quality ship registry that has the following qualities:
- Adoption of international standards
- Singapore is party to all the major International Maritime Organization (IMO) conventions on ship safety and marine pollution prevention
- Good safety and PSC record
- Experienced and responsible administration
- Choice of 8 classification societies
- Flexibility on crew nationality
- Recognition of foreign certificates of competency
- Harmonious maritime labour relationship with the shipping community
Conditions for Registration
Registration is open to all types of ships, including offshore vessels such as oil rigs and floating platforms. The vessels should comply with the relevant requirements laid down in the IMO Conventions such as SOLAS 74, Loadline 66, Tonnage Measurement (TM) 69 and MARPOL 73/78.
Vessels that are less than 17 years, which meet these requirements and are classed with any of the eight recognised classification societies, are normally accepted for registration. The vessel age will take reference from the year of keel laid of the vessel.
Dispensations may be considered for vessels under special operating circumstances. Equipment and arrangements approved by other maritime administrations that comply with the IMO Conventions are generally accepted.
Registration of fishing vessels, hydrofoils and wooden vessels are not accepted.
A Singapore ship may be owned by a Singapore citizen or permanent resident, and/or a company incorporated in Singapore. The Singapore-incorporated company must have a minimum paid-up capital sum of S$50,000.
The owner of every Singapore ship must appoint a commercial manager whose residence is in Singapore. The manager may be an officer of the owning company or of a management company.
The manager will be responsible for all matters related to ship registration and crew manning such as the day-to-day correspondences, billings including annual tonnage tax (ATT) with the Ship Registry Department (REG) and the Seafarers Management Department (SMD). All communications relating to the vessel will be directed to the manager.
Owners should also appoint a technical manager. This manager appointed by the owner will be responsible for matters related to the ship ISM Code and ISPS Code. The technical manager appointed by the owner may not necessarily be a resident in Singapore. The vessel can be technically managed by a “Company” from outside Singapore. “Company” means the owner of a ship or any other organisation or person such as the manager, or the bareboat charter, who has assumed the responsibility, has agreed to take over all the duties and responsibility imposed by the Code.
There is no restriction on the trading areas of a Singapore ship except in accordance with the United Nations Security Council Resolutions.