Through the Singapore Organisation of Seamen (SOS) union under the National Trade Union Congress (NTUC), Minister of State and NTUC chief Chan Chun Sing said that he will commit S$3 million over two years to subsidise the labour costs by paying in part for the accommodation, medical and training needs of seafarer employees.
This is second generous government subsidy offered by NTUC after a S$300,000 commitment to subsidise the hotel room costs from NTUC’s Singapore Maritime Officers’ Union.
Minister Chan Chun Sing made the announcement to subsidise the shipping corporations last night (Dec 1) at the Resorts World Convention Centre:
“The Government, the industry and the labour movement will do what we can to not only preserve the status of Singapore as a global maritime hub, but more importantly, also grow our capabilities.”
Singapore’s maritime industry is currently in a downturn and its prospects is diminishing as China announced a S$14 billion investment in Malacca, aiming to compete with Singapore as a trading port.