Isle of Man Ship Registry cuts fees for green ships

The scheme will be open to operators of cargo ships, commercial yachts or passenger ships which are investing in biofuel, alternative fuels, wind, or shore-side energy technology, the registry said.

The route to the reduced fees is to provide evidence that a vessel meets one or more of a list of criteria:

the ability to use alternative fuel (LNG, LPG, methanol, ammonia, hydrogen, hydrogen enriched fuel, fuel cells, or battery systems)
the ability to use wind assisted propulsion or wind energy for power generation
the ability to cold iron
the use of biofuels of biofuel blends as a primary fuel source for no less than 120 days in the preceding 12 months

The new green fees will be submitted to the Isle of Man’s legislature Tynwald for approval in March 2022, and will form the registry’s fees applicable from 1 April 2022.

Cameron Mitchell, Director of the IOMSR, said: "There is so much debate in the sector regarding which alternative fuels will be best in the future which conversely can create confusion and delay innovation. We want to jump start work in this area with this new green registration fee and state clearly that if you are a shipping line making steps towards hitting IMO Greenhouse Gas (GHG) emissions targets, the Isle of Man flag will reward you. We want to welcome more new, greener ships to our fleet."

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