Singapore flag grows to over 100 million GT

Caption: © Pixabay

The Singapore Registry of Ships (SRS), No. 5 in the world market, has passed the “milestone” of 100 million GT.

The authority of the Southeast Asian city state of Singapore has now announced the registration of the VLCC tanker “Eagle Veracruz” of the shipping company AET.

This means that Singapore’s fleet has now reached more than 100 million GT, according to a statement from the Maritime and Port Authority of Singapore (MPA). At the end of 2023, it was 99.6 million GT.

Singapore ranks 5th in the global market

The register ranks fifth in the global market behind Panama, Liberia, Marshall Islands and Hong Kong, followed by China, Malta, Bahamas, Greece and Japan in the top 10. The German flag is well behind. However, the responsible authority BG Verkehr now sees “new momentum” in the debate about the attractiveness of “black, red and gold”. The FDP-led Federal Ministry of Transport is devoting significantly more attention to the issue than has sometimes been the case in the past, says “flagging manager” Christian Bubenzer from BG Verkehr in an exclusive interview on HANSA PODCAST. He reports on new talks with shipowners and financiers, costs and bureaucracy reduction and potential consequences of the current federal budget crisis.

Bubenzer Hansa Podcast Flagge gross Kopie

In Singapore, the fleet sailing under the SRS flag comprises around 4,000 ships. According to the MPA, the flag should “significantly” contribute to increasing Singapore’s added value as an international shipping center by bringing together leading shipping groups from all over the world. According to the official announcement, the SRS is committed to the digitalization of shipping and decarbonization. 22 newly registered ships in Singapore have been awarded the Green Ship Certificate under the Green Ship Program in 2023, and the MPA expects more such eco-friendly ships to use Singapore as their flag of choice in the coming years.

The “Eagle Veracruz” is a VLCC with LNG dual-fuel propulsion. The ship has a length of more than 330 meters and a volume of more than 156,000 GT.

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