MPA will invest $100mn in Maritime Singapore Green Initiative
Aims to reduce emission of pollutants from ships The Maritime Singapore Green Initiative aims to further reduce the environmental impact of shipping and related activities to promote clean and green shipping.According to the Maritime and Port Authority of Singapore, Maritime Singapore Green Initiative consists of three programmes - 'Green Ship Programme', 'Green Port Programme' and 'Green Technology Programme".Singapore presents a commitment to address greenhouse gas emissions by shipping. Minister Lim said, "To encourage companies who are ready or thinking about undertaking environmentally-friendly shipping practices above and beyond what is IMO-mandated, the MPA will invest up to S$100 million over the next five years in the Maritime Singapore Green Initiative. This initiative highlights Singapore's commitment as a responsible flag, and port state to clean and green shipping."Under the Green Ship Programme targeted at Singapore-flagged ships, MPA will motivate ship owners who adopt energy efficient ship designs that reduces 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 ...
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