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Investment aid for ships to ease adaptation to sulphur emission limits

Investment aid for ships to ease adaptation to sulphur emission limits

Press release 14.03.2013 14.11 fi sv en

Finnish shipping companies may receive support for ship investment projects which significantly benefit the environment.

On 14 March, the Finnish Government issued an amendment to the Decree on investment aid improving the level of environmental protection of ships. The amendment will enter into force on 1 April 2013, and applications for investment aid may be filed from 2 April.

With this amendment, the scope of aid is extended so that it may also be granted to ships which are already in use. The environmental standards of shipping have changed and shipping companies will in the coming years be subjected to new requirements concerning the reduction of sulphur content of fuel, in particular. The current Government Decree on environmental investment aid to vessels only covers investments in new ships.

Following entry into force of the amendment, aid can be targeted at retrofitting vessels with emission abatement technologies, in particular sulphur scrubbers. Investment aid may be granted to technical solutions which enable introducing alternative fuels or reducing emissions from fuels.

Within the aid scheme approved by the EU, State aid to sulphur scrubber retrofitting operations may total a maximum of 50 per cent of the costs included in the project.

The 2013 Budget allocates a 30 million Budget Authority for the purpose of granting environmental aid to ship investments. The Budget Authority is aimed at subsidising investment costs of retrofitting operations which improve the level of environmental protection of ships already in use. The aid is granted by the Ministry of Transport and Communications.

Further information: Mr Tero Jokilehto, Director of Market Transport Unit, tel. +358 295 34 2568
Ms Tanja Müller, Coordinator, tel. +358 295 43 2279