Singapore will grant an additional 10% concession on port dues for containerships calling at the port as part of efforts to help shipowners cope with the prolonged slump in the shipping market.

The Maritime and Port Authority of Singapore (MPA) and port operator PSA Corporation said they have proactively worked on a suite of help measures, as the tough market saw Singapore box throughput in 2015fell by 8.7% year-on-year to 30.9m teu.

From 15 January 2016, MOA will offer the 10% concession on port dues for containerships at Singapore port if they are carrying out cargo works with a port stay of not more than five days.

The additional concession will be in place for one year, and will be granted on top of existing port dues concessions such as the Green Port Programme incentives and the 20% concession first introduced in 1996. In all, these concessions are expected to amount to more than SGD17m ($11.8m) in annual savings for container lines.

PSA said it is also working with their customers to enhance vessel productivity at the port and optimise network planning activities such as service deployments and phasing in and out of vessels, with the aim of lowering their operational costs.

Khaw Boon Wan, Coordinating Minister for Infrastructure and Minister for Transport, said at the Singapore Maritime Foundation New Year cocktail reception on Wednesday that “the measures are another reflection of the Singapore government’s consistent commitment to stand with and help our partners through challenging times”.