In its quarterly business update, Pacific Shipping announced that due to the port fees imposed by the Office of the United States Trade Representative on ships owned, operated, and built in China, the company is transferring ownership and flag registration of about half of its owned fleet to Singapore. Currently, Pacific Shipping owns 107 vessels, including 59 Handysize bulk carriers and 48 Supramax bulk carriers.

In August this year, Pacific Shipping established PB SG Private Limited. According to the Equasis database, the company now has a fleet of six bulk carriers, with five vessels transitioning from Hong Kong to Singapore registry on October 1, 2025, and one vessel transferring from the Marshall Islands to be registered in Singapore. The company explicitly stated that during the effective period of the U.S. Section 301 restrictions, only vessels held or leased by its Singaporean subsidiary will call at U.S. ports.

Furthermore, Seaspan, the world's largest container ship lessor, also announced the transfer of approximately a hundred vessels to the Singapore Ship Registry, aligning with Pacific Shipping's actions. Seaspan established Seaspan Singapore Pte Ltd on October 1 and concurrently registered 88 single-ship companies as the registered owners of each Singapore-flagged vessel.

The actions taken by Pacific Shipping and Seaspan will significantly enhance the ship registration scale in Singapore. Data from the Maritime and Port Authority of Singapore shows that the Singapore Ship Registry added 39 vessels in a single month in August, totaling 3.05 million tons, demonstrating a strong growth trend. By the end of August, the total tonnage registered with this registry had increased from 108.68 million tons at the beginning of the year to 119.74 million tons.