Germany extends deadline for financing LNG ships to end of 2021

Dec 31, 2020

Germany's Ministry of Transport and Digital Infrastructure extended the term of grants to equip and convert seagoing vessels to use LNG as marine fuel until December 31, 2021. Germany came to this decision after considering that many projects did not They were able to be executed last year due to financial problems caused by the COVID19 pandemic.

Commenting on this development, Enak Ferlemann, Parliamentary State Secretary to the Federal Minister of Transport and Digital Infrastructure, stated:

"We reacted to this unforeseeable crisis situation and extended the financing guidelines for another year. Other projects will begin in 2021, which will also boost investments in the propulsion of environmentally friendly ships. Despite the crisis Globally, we must continue to promote the sustainability of our maritime transport. That is why we continue to advocate for the use of LNG as an alternative low-emission marine fuel and a pioneer in climate-friendly maritime transport.
The LNG financing guideline provides subsidies for investments in LNG propulsion for oceangoing vessels up to 40%t and, depending on the size of the company, even up to 60%."

Enak Ferlemann, Parliamentary State Secretary to the Federal Minister for Transport and Digital Infrastructure

As a result of the first two calls for funding, several projects have already benefited from BMVI subsidies for investments in environmentally friendly ship propulsion.

In fact, the BMVI is investing almost 30 million euros in a total of 12 equipment and modernization projects. Recently, through the second call for funding, the LNG team of four new chemical tankers of the Hamburg shipping company John T. Essberger was able to obtain more than 6.3 million euros and the LNG conversion of two Cement vessels of the Brise / Baltrader shipping company with more than 4.8 million euros are supported


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