Liberian Registry starts up green initiative

The Liberian Registry is vowing to remain a leader in environmental compliance with its new green initiative
Liberian Registry starts up green initiative

The Liberian Registry has announced that it is launching a green ship initiative to ensure that the Liberian-flag fleet remains a leader in environmental compliance. 

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the registry said: “The Liberian Registry is an environmentally aware and responsible maritime administration. We have launched a new initiative to help ship owners improve their green credentials and meet other corporate social responsibilities. Our aim is to ensure that Liberia remains the greenest fleet afloat."

The LR recently struck up a partnership with US-based consultancy EfficientShip Finance (ESF) to launch an innovative environmental initiative designed to reduce global carbon emissions, enhance fleet efficiency and competitiveness and promote a greener Liberian fleet. LR is offering special tonnage tax discounts for ships participating in their green initiative. Each vessel will get a 50 percent annual tonnage tax discount in the first year, and up to 25 percent in the second and third years.

ESF’s partnership with LISCR offers a turnkey energy-saving solution for ships on an international basis with an add-on specifically crafted for Emissions Control Areas (ECA). ESF will fund each project, and take responsibility for technology performance and fuel volatility risk, along with the technical supervision and monitoring to perform retrofits. Owners and operators remit to ESF a proportion of the amount they save on fuel costs, or which they receive in the form of additional negotiated hire.

The ESF global programme includes a mix of fuel efficiency retrofit solutions for each vessel, based on its trading pattern, age, size, speed, and consumption. The technologies used represent widely accepted and tested solutions in the market including, wake-improving ducts, rudder bulbs and fins, protracted tip propellers, engine improvements, smooth coatings, and performance and trim optimising software.

For ships trading within ECA zones, the programme could include the installation of exhaust scrubber systems or the conversion of engines to LNG dual-fuel, to comply with emissions requirements which came into effect on 1 January, 2015.

Christian Mollitor, LISCR vice-president and project manager of the green initiative added: “We are delighted to have concluded this agreement with ESF. It should help owners and operators reduce fuel costs while creating the potential to increase hire or charter rates or achieve better pool points, and increase asset values in the secondhand market.

“It should also produce improved utilisation rates and marketability, and reduce port costs, freeing up funds for core business investments, including new ship acquisitions, or just facilitating the preservation of cash reserves to make it through a tough market.”

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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