Ship owners enjoy tax exemption on specified income derived from the operation of a Singapore-flagged or foreign flagged vessel under Section 13A and 13 F of the Singapore Income Tax Act (SITA).

A shipping operator who operates Singapore ships or foreign ships can enjoy exemption of specified income as a ‘shipping enterprise’ under Section 13A of the SITA.

The aim of Corporate Governance is to facilitate efficient, entrepreneurial and practical management that can deliver the long-term success of the Company. Corporate governance is about what the Board of Directors of a Company does and how it sets the values of the Company.

Registration is open to all types of ships which includes offshore vessels like oil rigs and floating platforms. The vessel should be less than 17 years old and classed with any of the nine recognised classification societies.