THE Maritime and Port Authority of Singapore (MPA) plans to invest up to SGD100 million (US$80.25 million) over the next five years in its 'Maritime Singapore Green' initiative that encourages companies to adopt environmentally-friendly shipping practices above and beyond what is mandated by the International Maritime organisation (IMO).
 

    According to Transport Minister Raymond Lin, the initiative will focus on three areas. First, the "green ship programme" will recognise Singapore-flagged vessels that adopt energy efficient ship designs exceeding IMO's requirements. These ships will enjoy a 50 per cent reduction in their initial registration fees and a 20 per cent rebate on their annual tonnage tax. To further acknowledge these ship owners, a new "SRS green ship of the year"' award will be introduced at the next Singapore International Maritime Awards.

    Second, the "green port programme" will target ships calling at the Port of Singapore that use approved abatement technologies or burn low sulphur fuel above MARPOL standards within the port. Such ships can qualify for a 15 per cent reduction in port dues.

    Third, the "green technology programme" will co-fund early adoption of new green technologies by local maritime companies. MPA will set aside S$25 million (US$20.2 million) from the maritime innovation and technology (MINT) fund for this purpose in the first instance. If the take up is good, it is prepared to consider another tranche of S$25 million, a statement said.

    Speaking at the 6th Singapore International Maritime Awards 2011, Mr Lim said a key challenge will be to balance economic growth with the need to protect the marine environment.
 

    "Green shipping has now become an inescapable part of industry practice. Ship owners and port operators are progressively pursuing measures to reduce SOx, NOx, greenhouse gas and particulate matter from their operations. Some lines have switched to low sulphur fuel for port calls, others are at the cutting edge of fuel efficiency in ship design," he said.
 

    "Singapore has been a strong supporter of the International Maritime organisation's efforts to address greenhouse gas emissions by shipping. We are party to all the annexes of the international convention for the 'prevention of pollution from ships,' more commonly referred to as MARPOL. We are one of the few Asian ports to do so."

    Singapore's maritime sector contributes about seven per cent of the city state's GDP, and employs more than 170,000 people.
 

(Source:http://www.schednet.com)