On October 11, Guangdong Province announced that it would arrange subsidies of about 550 million yuan to subsidize 300 eligible ships for LNG power transformation, promote the green development of inland shipping, and promote the application of LNG-powered ships.
 
The subsidies are targeted for shipowners who transform existing or under construction ships into LNG-powered ships, as well as third-party units that provide relevant technical and training services.
 
The subsidy fund is mainly used to transform the existing or under construction inland ships into LNG powered ships. The subsidy scope is for the ships that have completed the transformation in the shipyard of Guangdong Province from July 1, 2021 to December 31, 2022, passed the inspection by the ship inspection authority and obtained the ship inspection certificate.
 
The tonnage of ships applying for transformation shall not be less than 400 GT, and the main engines of ships after transformation must be single natural gas fuel engines. For existing ships to apply for transformation subsidies, they must be registered in Guangdong Province; For ships under construction to apply for transformation subsidies, the transformed ships must be registered in Guangdong Province and promised not to be transferred out of the province within three years.
 
The "Plan" requires that the age of the ship should be within 15 years (the construction date is July 1, 2006 and after). Subsidies for LNG power transformation of ships under construction, ship design drawings should be approved by CCS Guangzhou Branch and construction should be started before December 31, 2021.
 
In order to encourage and guide inland shipping companies to actively participate in the transformation of ship LNG power, the "Plan" also requires local cities to introduce local supporting incentive measures on the basis of the encouraging policies of Guangdong Province. The relevant business-benefit policies should be favored by shipping companies participating in the transformation of ship LNG power. Appropriate financial subsidies can be given in addition to provincial subsidies.
 
Source: Sarah Yu, XINDE MARINE NEWS

Please Contact Us at：

media@xindemarine.com