Tech firm FuelTrus and the Isle of Man Ship Registry (IOMSR) have signed a memorandum of understanding. To use FuelTrust’s fuels and emissions digital technology to validate vessels for the flag’s Green Ship scheme and to collaborate on further projects to incentivise and enable emissions reductions.
The collaboration and cooperation agreement will enable shipowners and operators registered with the IOMSR to use FuelTrust’s Bunker Insights product to predict, measure and authenticate their fleets’ emissions reductions.
Under this collaboration, IOMSR will accept FuelTrust’s AI-based validation of a vessel’s performance regarding its emissions and fuel quality programs. This will make vessels using Bunker Insights eligible for IOMSR’s green ship designation and benefit from discounts or offerings on their annual registration fee.
The Isle of Man is the world’s first flag state to reduce registration fees for ships deploying green technology
The Green Ship discount programme, which comes into effect tomorrow, is available to operators of cargo ships, commercial yachts or passenger ships that invest in biofuel, alternative fuels, wind, or shore-side energy technology.
Cameron Mitchell, director of the Isle of Man Ship Registry, said, “As the world’s first flag state to reduce registration fees for ships deploying green technology, we want to support our members’ efforts by giving them access to the best technology for supporting fuel choice and to manage and monitor vessel emissions for regulatory compliance.”
FuelTrust’s solutions use its AI Digital Chemist to simulate combustion on a molecular level to track fuel quality, energy, and emissions profiles. AI Digital Chemist combines the known characteristics of a fuel batch, with class data on the vessel engine, and data from the day logs to precisely establish what results when fuel is burned.