| Zero Emission Shipping Project | |
|---|---|
| Name: | Mapping Global Financial Support Opportunities for Zero-Emission and Energy-Efficient Ships |
| Start/End Date: | November 2024-March 2025 |
| Project Status: | Completed |
| Point of Contact: | Trine Berg Hansen (DMA) |
| Pillar: | Ships |
The study consists of a report done in an illustrative Power Point format, and an Excel sheet that dives into the specifics of the funding opportunities and provides direct access through URLs. You can access the study here:
- Mapping Global Financial Support Opportunities for Zero-Emission and Energy-Efficient Ships Report
- Excel sheet with funding opportunities
The study is a one-time mapping. It is noted, that since financing for maritime investments from conventional bank loans are very costly for ship owners, this type of loan is not a part of the study. The study serves as a supplement to existing mappings and portals, such as the EU Commission’s Ship Financing Portal, launched in August 2024.
Main Findings:
With more than 70 funding opportunities, this study seeks to provide ship owners and governments at a global scale with an overview over financial support and guarantee opportunities for investments in new builds, retrofitting and/or energy efficiency improvements. The study shows that various types of funding options exist for ship owners, including grants, guarantees and loans from regional development banks. Some of these appeal directly to the maritime sector while others have a broader target group. Furthermore, the mapping reveals that while funding opportunities exist across the globe, the vast majority of these are in the Europe and the US while options in especially Africa and Latin America are scarce. Lastly, the study’s deep-dives highlight that application requirements, notably for loans from regional development banks, are often complex and require government involvement.
Project Objective:
The purpose was to identify financial support opportunities for new builds and retrofitting of existing ships to enable them to operate on Zero-Emission fuels based on well to wake, as well as for measures to improve energy efficiency. The financial support and guarantees may come from public or private funds, as well as multilateral development banks, etc. Conventional banks loans is not a part of the study. There is no GT limit on the ships included in the study.
Many shipping companies are postponing investments in new build dual fuel vessels and energy efficiency improvements, despite technological developments. It appears that securing full financing is challenging. This study aimed to make it easier for ship owners on a global scale to choose green solutions for their ships by providing them an easy overview of financial support and guarantee opportunities for investments in new builds, retrofitting and/or energy efficiency improvements.
Project Milestones:
- End November 2024: Project upstart
- February 2025: End of Project
- February-March 2025: Knowledge sharing on the project outcome
Leading Members:
Danish Maritime Authority (DMA)
For further information on the study, please contact the Zero-Emission Shipping Mission by e-mail: shippingmission@dma.dk.