The Maritime and Port Authority of Singapore has published details of revisions to the Maritime Sector Green Initiative which are intended to align with the IMO’s revised greenhouse gas emission reduction ambitions and address the development of ‘greener’ technologies.
Maritime Sector Green Initiative
The revisions, which apply to Singapore-registered ships, will come into play on 1 January and apply until 31 December 2027.
Under the enhanced Green Ship Programme, the MPA will provide the owners of Singapore-registered ships (SRS) with the following incentives:
- SRS that adopt engines/technologies capable of using zero-emission fuels (e.g. hydrogen, battery) as their primary fuel will be entitled to a 100%concession on the Initial Registration Fee (IRF) and 100% concession on the Annual Tonnage Tax (ATT).
- SRS that adopt engines capable of using zero-carbon fuels as the primary fuel (e.g. ammonia with pilot fuel capped at 25% on an energy basis with ammonia slip, NOx and N2O addressed) will be entitled to a100% concession on the IRF and 80% concession on the ATT.
- SRS that adopt engines capable of using fuels with a CF of < 1.375 as the primary fuel (conversion factor between fuel consumption and CO2 emission) will be given a 75% concession on the IRF and a 50% concession on the ATT.
- SRS that adopt engines capable of using fuels with 1.375 < CF Value < 2.750 as the primary fuel will receive a 50% concession on the IRF and a 20% concession on the ATT.
- SRS that exceed the requirements of IMO’s MARPOL Annex VI Phase 3 Energy Efficiency Design Index (EEDI) by 10% or more will receive a 20% concession on the IRF and a 20% concession on the ATT.
- SRS that achieve a CII “A” rating would also receive an additional 5% concession on the ATT.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: MPA
