The green discount will give ship owners a 15 percent reduction on their annual registration fee. The discount is available to operators of cargo ships, commercial yachts or passenger ships which are investing in biofuel, alternative fuels, wind, or shore-side energy technology.IOMSR IS WORLD-FIRST IN DISCOUNTING FEES FOR SHIPS USING GREEN TECHNOLOGY
Reportedly, “The IOM Ship Registry stands at 17 in UK shipbroker Clarksons’ list of the biggest flag states. It has around 400 ships and 14m gt under its flag.”
“Cutting registration fees for low emission ships is good for customers, and good for the environment. It’s great to see responsible global leaders rewarded for improving performance,” said Michael Josem of the Manx TaxPayers’ Alliance.