Photo courtesy tangobabe1 via Flickr
12 maritime organizations pledge their commitment to environmentally friendly shipping
At the the Singapore International Maritime Awards yesterday, Mr. Raymond Lim, Minister for Transport, and the Port Authority of Singapore (MPA) launched an initiative to promote environmentally-friendly shipping in Singapore. The initiative, called the Maritime Singapore Green Initiative, is aimed at combating greenhouse gas emissions from maritime shipping by committing S$100 million over the next five years into 3 core programs; the Green Ship Program, the Green Port Program and the Green Technology Program, each providing incentives across key maritime shipping segments.
Green Ship Program
Targeted at Singapore-flagged ships, the Green Ship Program will provide incentives to ship owners who adopt energy efficient ship designs that reduce fuel consumption and carbon dioxide emissions. As an incentive, ships which go beyond the requirements of IMO’s Energy Efficiency Design Index will receive a 50% reduction of Initial Registration Fees (IRF) and a 20% rebate on Annual Tonnage Tax (ATT). Ship owners will also receive certificates and a new “SRS Green Ship of the Year” award starting from the next Singapore International Maritime Awards.
Green Port Program
The Green Port Program is aimed at encouraging ocean-going ships calling at the Port of Singapore to reduce the emission of pollutants like sulphur oxides and nitrogen oxides. Ships that use type-approved abatement/scrubber technology or burn clean fuels with low sulphur content beyond MARPOL requirements within the port will receive a 15% reduction on port dues.
Green Technology Program
The Green Technology Program aims to encourage local maritime companies to develop and adopt green technologies through co-funding of up to half of qualifying costs. For a start, MPA will set aside S$25 million from the Maritime Innovation and Technology (MINT) Fund, and another S$25 million pending its success.
Mr. S.S. Teo, President of the Singapore Shipping Association says “I am glad that the MPA has taken the initiative as a leading ship registry, to become the worlds first maritime administration to launch a comprehensive pro-environment initiative for Singaporeâ€Ÿs maritime sector. The three Green Programs will enhance shippingâ€Ÿs environmental image, and raise the social awareness of Singaporeâ€Ÿs shipping community, as we take on an even more active role in further reducing greenhouse gas emission from shipping.”
At total of 12 key organizations have pledged their commitment to the Maritime Singapore Green Initiative including BG Singapore, Maersk, Keppel, Neptune, Ocean Tankers, Jurong, Maritime and Port Authority of Singapore, Pacific International, PSA Corp., Sembcorp, Shell Marine Products and Singapore Shipping Association.
More about the Maritime Singapore Green Initiative can be found at MPA.gov HERE