Isle of Man to offer discounts to greener ships

The Isle of Man Ship Registry (IOMSR) will give owners a 15% discount on annual registration fees if they invest in more sustainable alternative fuels.

PHOTO: Aerial view of Port St. Mary. Isle of Man

The green discount is available to operators of cargo ships, commercial yachts, or passenger ships that have invested in alternative fuels such as biofuel, or in renewable shore-side technologies.

“The Isle of Man Government has made a clear commitment to sustainability as outlined by our strategic objectives in the Island Plan and we are the first flag to introduce this incentive and look forward to seeing more initiatives like these in the future,” says Isle of Man’s Minister of Enterprise Dr. Alex Allinson.

If the discount gets approved by Isle of Man legislator body Tynwald Court in March, it could come into force from April.

The Isle of Man has been pushing for more sustainable shipping and became the first flag state to join the Getting to Zero Coalition two years ago. The coalition targets zero-emission deep-sea ships into operation by 2030.