Maritime giant AP Moller Maersk will register more than 30 new ships under the Singapore flag, a move that will significantly boost the local shipping industry, analysts said. The new ships will come on stream over the next three years and eventually bring AP Moller Singapore’s 77-vessel fleet to above 100 for the first time.
More vessels are seeking to be registered in Singapore due to a range of government incentives like tax breaks, but the ships must also meet stringent safety rules. The additions will be more than half of the 58 new-buildings the Danish shipping conglomerate plans to add to its fleet of vessels. Its container arm Maersk Line is the world’s largest.