Germany Extends Support for Switching Ships to LNG
Germany's federal ministry for transport and digital infrastructure said on December 28 it had extended the period in which it provides grants for equipping and converting vessels to run on LNG fuel by one year until December 31 2021.
The ministry said the move was necessary given the financial strain on shipping caused by the coronavirus pandemic, which has meant that many projects could not go ahead this year. The extension "will boost investment in environmentally friendly ship propulsion," the ministry's parliamentary state secretary Enak Ferlemann said.
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"Despite the global crisis, we must continue to drive the sustainability of our shipping forward," he said. "That is why we continue to advocate for the use of LNG as a low-emission alternative marine fuel and a pioneer for climate-friendly shipping."
The grants cover between 40% and 60% of the cost of investing in LNG propulsion. The ministry has made two funding calls, resulting in a wide variety of 12 equipping and retrofitting projects already benefiting from €30mn ($37mn) in subsidies, it said.