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, Regulation and Standards Department
22980 Indian Creek Drive, Suite 200
Dulles, VA 20166 USA
Tel: +1 (703) 251 2469
Fax: +1 (703) 790 5655
E-mail: Cedric.Dsouza@liscr.com or RegsandStandards@liscr.com
