The Isle of Man Ship Registry has announced that from April 1 it is introducing new incentives for ship owners to adopt energy efficient ship designs which reduce fuel consumption and air pollution.
For vessels that qualify, there will be a 25 per cent cut to the cost of a Certificate of Registry for new registrations and a 10 per cent 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: ‘This “green shipping” initiative is an important part in our drive to reduce emissions from ships and is welcomed by our clients.’