What Kind of Government Grant Can a Maritime and Shipping Business Get in Singapore?
Singapore is one of the world’s leading maritime hubs, home to a thriving ecosystem of shipping companies, port operators, offshore and marine engineering firms, and maritime technology providers. As global shipping faces disruption from digitalisation, decarbonisation, and automation, the Singapore government has stepped in with a variety of grants and funding schemes to support transformation across the maritime value chain.
This article highlights key government grants available to maritime and shipping businesses in Singapore and how they can help enhance competitiveness, innovation, and sustainability.
1. Maritime Innovation and Technology (MINT) Fund
Administered by the Maritime and Port Authority of Singapore (MPA), the MINT Fund supports R&D and test-bedding of maritime technologies.
Covers Projects Involving:
- Autonomous shipping
- Smart port technologies
- Emissions reduction and green fuel adoption
- Maritime cybersecurity
Funding Support: Varies by project, typically co-funding of up to 50-70% of qualifying costs
Example: A local maritime startup developing AI-driven fleet routing software can apply for the MINT Fund to support prototyping and testing with pilot customers.
2. Maritime GreenFuture Fund
Aligned with Singapore’s sustainability goals under the Maritime Singapore Decarbonisation Blueprint, this fund supports green technologies and low-carbon solutions in the maritime sector.
Supports:
- LNG and hydrogen-fuelled vessels
- Electric and hybrid port equipment
- Carbon capture and storage systems
Example: A shipping company investing in electrification of tugboats can receive funding for vessel retrofitting and charging infrastructure.
3. Sea Transport Industry Digital Plan (IDP)
Developed by MPA and IMDA, the Sea Transport IDP provides SMEs in the maritime sector with step-by-step guidance and support to digitalise their operations.
Digital Solutions Covered Include:
- e-invoicing
- Crew management software
- Vessel tracking systems
- Compliance documentation automation
Eligible companies can also receive PSG support for adoption of pre-approved solutions.
Example: A shipping logistics firm can adopt a PSG-supported vessel scheduling software to increase operational efficiency.
4. Enterprise Development Grant (EDG)
The EDG remains a core grant for maritime businesses seeking to build capabilities, innovate, or expand overseas.
Supports Projects Under:
- Core Capabilities: Business strategy, branding, HR development
- Innovation and Productivity: Port automation, remote vessel inspections, robotics
- Market Access: Expansion into global shipping lanes and trade routes
Funding Support: Up to 50% for SMEs
Example: A maritime engineering company might use EDG to implement IoT-based sensors in shipyards for predictive maintenance and productivity gains.
5. Productivity Solutions Grant (PSG)
The PSG co-funds pre-approved digital solutions and tools that can improve maritime business processes.
Applicable Solutions Include:
- Inventory management for ship chandler services
- Accounting and HR software for small shipping agencies
- Cybersecurity solutions for maritime IT systems
Funding Support: Up to 50% of costs
Example: A marine equipment supplier may adopt an inventory management system under PSG to better track tools and parts.
6. SkillsFuture Enterprise Credit (SFEC)
The SFEC supports both enterprise transformation and employee upskilling, crucial for the evolving maritime workforce.
Funding: Additional 90% support on top of existing grants, up to S$10,000
Use Cases Include:
- Training in maritime sustainability practices
- Automation and data analytics courses for port operations
- Digital twin and simulation modelling workshops
Example: A port services company may upskill its team in AI-powered port optimisation using SFEC-subsidised courses.
7. Maritime Cluster Fund (MCF)
The MCF, managed by MPA, supports capability development and manpower training for maritime enterprises.
Funding Components:
- Manpower Development: Supports local talent training and certification
- Business Development: Co-funds projects that enhance industry competitiveness
Example: A shipping firm can use MCF to sponsor STCW training or develop in-house maritime safety programmes.
8. Market Readiness Assistance (MRA) Grant
The MRA Grant aids maritime companies looking to expand globally.
Supports:
- Market entry consultancy
- Overseas marketing and PR
- Setting up international offices or partnerships
Funding Support: Up to 50% of costs, capped at S$100,000 per new market
Example: A shipping agency establishing operations in Europe may use the MRA to cover incorporation, licensing, and legal services.
9. Smart Port Challenge and PIER71 Accelerators
These are innovation platforms by MPA and PIER71, focused on nurturing maritime tech startups through mentorship, pilot opportunities, and funding.
Supports:
- Prototype development
- Access to maritime stakeholders
- Startup grants and follow-on investment
Example: A startup building AR-powered ship inspection tools might join PIER71’s programme to develop its prototype in collaboration with port authorities.
Final Thoughts: Navigating Innovation in Maritime Singapore
Singapore’s maritime sector is rapidly evolving with digitalisation, sustainability, and talent development at the forefront. Government grants provide targeted support to accelerate this transformation—whether through funding green vessels, automating port operations, or training seafarers for the future.
The challenge for many businesses lies in understanding which grants best match their strategic goals and ensuring compliant, well-supported applications.
Need Help Applying for Maritime Grants? Let GrantConsultant.sg Chart the Course
At GrantConsultant.sg, we specialise in helping maritime and shipping businesses in Singapore access the right government grants. Whether you’re exploring decarbonisation technologies, automating port processes, or expanding internationally, our consultants can guide your application from concept to approval.
Reach out today to start navigating your business growth with expert grant support.