US$100m boost to Clean and Green shipping in Singapore

The Maritime Singapore Green Initiative, in which the MPA will invest up to S$100m (US$80m) over the next five years, is a comprehensive initiative comprising three programmes: ‘Green Ship’, ‘Green Port’ and ‘Green Technology’.

Under the Green Ship Programme targeted at Singapore-flagged ships, 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 (IRF) and a 20% rebate on Annual Tonnage Tax (ATT) payable. Ship owners will also be recognised through certificates and a new “SRS Green Ship of the Year” award starting from the next Singapore International Maritime Awards.

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.