SIPA ANNOUNCED NEW PORT TARRIFS

SIPA CEO Colin Yow. Photo credit: SIBC.

SIPA CEO Colin Yow. Photo credit: SIBC.

Solomon Islands Ports Authority (SIPA) has announced the implementation of its new gazette port tariffs.

SIPA Chief Executive Officer Mr. Collin Yow said the new tariff is effective as of 1st September 2015.

Mr. Yow said this is the first major port tariff increase SIPA made so far.

“This is the first major Port tariff increases since SIPA inception in 1956 and since independence, 35 years ago. These new tariff rates are comparable to our neighbouring ports such as Port of Lae, Port Moresby. Prior to its implementation, SIPA did a comparison survey with the regional ports, only to find that Solomon Islands had been charging the lowest rates in the region.”

He explains, the charges are only applicable to foreign vessels and are not excessive. It is aligned to other ports in the region.

Mr Yow said the new tariff rates must be read in context relative to the value of goods and their associated freight charges.

He adds, the revenue raised from the tariff is earmarked to fast-track port infrastructure works and equipment in preparation for the new wharf and the replacement of old equipment.

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