Singapore Focus: Transport Sector (Critical Firms) Act 2024

In May 2024, Singapore introduced the Transport Sector (Critical Firms) Bill (“Bill”), which aims to “enhance resilience of essential transport services in Singapore”, including those by sea, to protect against the risk of external parties exerting undue influence over such services.  The Bill amends the Maritime and Port Authority of Singapore Act and the essential maritime services are considered to be “port and marine services and facilities, as well as services which support the provision of sea transport”.  The Bill will introduce legislative controls on: (i) ownership of key transport service entities, (ii) management appointments and (iii) operations and resourcing. If you would like to find out more about the Bill, please contact us.