Isle of Man Ship Registry Presents New Incentives for Ship Owners
- Business & Finance
The Isle of Man Ship Registry is introducing new incentives for ship owners to adopt energy efficient ship designs which reduce fuel consumption and air pollution, from April 1, 2014.
For vessels that qualify, there will be a 25% reduction to the cost of a Certificate of Registry for new registrations and a 10% discount from the annual registration fee for vessels already registered with the Isle of Man.
Since the International Maritime Organisation (IMO) formalised an international system for determining the energy efficiency of ships, it is now possible to compare energy efficiency across ships of different types and sizes. This system forms the basis of the Isle of Man’s ‘green ship’ incentive scheme.
Dick Welsh, Director of the Isle of Man Ship Registry said: “Shipping is a global industry and requires an international solution to the problem of air pollution caused by ships. It is fair to say that the shipping industry is the first to tackle emissions on a global scale.
“This ‘green shipping’ initiative is an important part in our drive to reduce emissions from ships and is welcomed by our clients. We are delighted to be able to reward owners and operators who employ ship efficiency measures ahead of the international implementation dates.
“The Isle of Man is proactive in pursuing green technologies and is establishing a reputation as a jurisdiction to which ‘Clean Tech’ businesses are choosing to relocate.”
To qualify for the fees reduction, ship owners must submit a copy of the International Energy Efficiency (IEE) Certificate or pre-verification report to demonstrate that the ship’s attained Energy Efficiency Design Index (EEDI) reduction factor exceeds the IMO’s EEDI reduction factor requirements for that particular vessel ahead of the IMO’s implementation dates.
Isle of Man Gov, March 27, 2014