Liberia’s Partnership Program for Eco-Upgrade Financing

As part of its ongoing commitment to environmental excellence, the Liberi­an Registry (LISCR) has entered into a partnership with U.S. based specialty ship finance firm, Ursus Maritime Capital, to launch an innovative environ­mental retrofit finance program designed to reduce global car­bon emissions, enhance fleet efficiency and competitive­ness, and promote a greener Liberian fleet.
 

The Liberian Registry is also offering special tonnage tax dis­counts for ships participating in this green initiative. Each ship will be entitled to a 50 percent annual tonnage tax discount in the first year, and up to a 25 percent discount in both the second and third years.
 

Ursus’s partnership with LISCR offers a complete turnkey energy-saving solution for ships on a global basis as well as for Emissions Control Ar­eas (ECAs). Ursus will provide the financing needed for each project, and assumes responsibility for technology per­formance and fuel volatility risk. Ursus also provides technical supervision retrofits and con­tinuous monitoring. Owners and operators remit to Ursus a proportion of the amount they save on fuel costs, or from the additional-negotiated hire. The retrofit projects require no upfront capital by owners and, since the pay­ments are always limited to a share of the sav­ings, there is an ongoing net benefit to customers.
 

WHY RETROFIT - BENEFITS TO SHIPOWNERS

Ursus Maritime Capital assumes the full technology performance and fuel volatility risk, and provides off-balance sheet funding, thus allowing an owner to improve their fleets with reduced risk with no upfront capital.
 

  • Reduced fuel costs 
  • Increased hire or charter rates or better pool points
  • Increased asset value for second hand market
  • Improved utilization rate and marketability
  • Reduced Port costs
  • Improved “green” image and other CSR benefits
  • Use of funds on core business, such as new ship acquisitions
  • Maintain cash reserves to make it through the rough market
  • Annual operating expense reduced additionally through lowered registration fees with Liberia
    • 1st year: 50% annual tonnage tax discount
    • 2nd year: 25% annual tonnage tax discount
    • 3rd year: 25% annual tonnage tax discount


APPLICABLE TECHNOLOGIES

Global Trade – Fuel Efficiency

Ursus installs the optimal mix – per ship type – of a suite of efficiency improving technologies, including:

  • Flow improving appendages
  • Optimized propeller designs
  • Smooth hull coatings
  • Rudder bulbs
  • Trim optimization software
  • Performance monitoring software
  • Bulbous bow re-design
  • Main engine tuning


For additional information, please contact:

Mr. Cedric D’Souza, Vice President, Technical and Communications
8619 Westwood Center Drive, Suite 300
Vienna, VA 22182 USA

Tel: +1 (703) 251 2469
Fax: +1 (703) 790 5655
E-mail: Cedric.Dsouza@liscr.com or technical@liscr.com

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