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Mon 21 Sep 2015, 11:34 GMT

Eco-Upgrade Finance Programme up for new award


Finance programme is designed to help reduce global carbon emissions and enhance fleet efficiency and competitiveness.

The Liberian Registry's Eco-Upgrade Finance Programme has been selected as a finalist in the Asia Lloyd's List Awards in the Innovation - Systems, Business Processes and Models category.

It is the third award for which the Liberian programme has been nominated in recent weeks, following its confirmation as a finalist in the Lloyd's List 2015 Global Innovation Awards and the Ship Efficiency awards.

Liberia's Eco-Upgrade Finance Programme is designed to help reduce global carbon emissions and to enhance fleet efficiency and competitiveness. It offers a complete energy-saving solution for ships on a global basis with an add-on specifically crafted for Emissions Control Areas (ECAs).

The global programme includes an optimal mix of fuel efficiency retrofit solutions for each target vessel, based on its trading pattern, age, size, speed, and consumption. For ships trading within ECA zones, the programme can include the installation of exhaust scrubber systems or the conversion of engines to LNG dual-fuel, to comply with emissions requirements.

Scott Bergeron [pictured], chief executive officer of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the registry, and a principal of global marine service provider, the YCF Group, said: "It is extremely gratifying to see that the Liberian Registry is being recognised for its efforts to help shipowners improve and maintain their green credentials."

Meanwhile, US-based consultancy EfficientShip Finance (ESF), a partner with the Liberian Registry in the Eco-Upgrade Finance Programme, has confirmed that it is to act as project coordinator for a Carbon War Room (CWR) grant of up to $200,000 to cover the cost of installing continuous performance-monitoring equipment / software to a shipowner or charterer willing to retrofit a bundle of proven technologies. The goal of CWR's grant is to verify the benefits of the multi-technology retrofit and provide a proof of concept for the entire maritime industry.

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