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The Maritime and Port Authority of Singapore (MPA) is introducing a new financial assistance scheme for bunker surveying companies, according to MPA chief executive Mr Lam Yi Young

This scheme will grant bunker surveying companies a one-time 30 per cent financial relief on the assessment fee when they attain their accreditation credentials with the Singapore Accreditation Council (SAC) under the Accreditation Scheme for Inspection Bodies.

More than 70 per cent of bunker surveying companies in Singapore stand to benefit from the financial assistance scheme, the MPA said.

Under an initiative announced last year, from 1 January 2010, all bunker surveyors will need to be employed by companies that are accredited under the Accreditation Scheme.

"The Accreditation Scheme for bunker surveying companies is an important initiative that we should press on with despite the economic situation," said Mr Lam.

"MPA's new financial assistance scheme will defray part of the accreditation cost and help them keep to the timeline for accreditation."

"Bunker surveying companies play an important role in the bunker supply chain. A formal and structured accreditation process enhances the accountability and professionalism of bunker surveying companies, and also raises the standards of surveying practices in tandem with the increasing demands of the bunkering business," the MPA said in a statement.

Eligible bunker surveying companies have up to 31 December 2009 to submit their applications to the MPA. Instructions on how to apply for financial assistance under this scheme will be provided in a Port Marine Circular, the MPA said.