Singapore-flagged ships that reduce their carbon emissions are in line to qualify for financial benefits from next year, the city state’s regulator has said.
The green notation is one of four new categories being rolled out by the Singapore Registry of Ships (SRS) to recognise investments in digitalisation, welfare and sustainability.
"The SRS is the first ship registry in the world to introduce such an accreditation system," the Maritime and Port Authority of Singapore (MPA) said.
"We will roll out the SRS notation initiative to recognise ship owners and operators who voluntarily incorporate solutions to drive digital transformation, strengthen cyber security, enhance well-being of seafarers and pursue sustainable shipping."
The green notation will be awarded to vessels that have "implemented solutions to reduce their carbon emissions, such as usage of low or zero-carbon fuels".
From 2022, qualifying vessels will receive additional benefits such as a reduction in initial registration fees and rebates on annual tonnage taxes during the qualifying duration.
The four new notations — which also include Smart, Cyber and Welfare — are being introduced from 1 November 2021 for Singapore-flagged vessels.
The Smart notation will be awarded to ships that adopt "digital solutions to improve the safety and efficiency" of shipboard operations, such as automation, advanced monitoring, and remote inspection.
Those vessels that have adopted advanced cyber-security measures to protect their key shipboard operational technology systems from cyber-attacks, will be in line to receive the Cyber notation.
Ships that are equipped with good infrastructure and welfare amenities to "enhance the quality of life for their crew" will qualify for the Welfare notation.
The SRS, which began in 1966, is today one of the top five registries globally with more than 4,000 ships aggregating 93m gross tonnage.
