S$100mil Green Boost
The Maritime and Port Authority of Singapore has launched a comprehensive package to promote environmentally-friendly shipping.
The Maritime Singapore Green Initiative seeks to further reduce the environmental impact of shipping and related activities and to promote clean and green. It comprises three programmes – the Green Ship Programme, Green Port Programme and Green Technology Programme.
The MPA will provide incentives to ship owners who adopt energy efficient ship designs that reduce fuel consumption and carbon dioxide emissions. Singapore-flagged ships which go beyond the requirements of IMO‟s Energy Efficiency Design Index will enjoy a 50% reduction of Initial Registration Fees and a 20% rebate on Annual Tonnage Tax payable. Ship owners will also be recognised.
The Green Port Programme 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 can enjoy a 15% reduction on port dues payable.
The Green Technology Programme 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 Fund for this programme. If response is good, MPA will set aside another S$25 million for this programme.
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