The Hong Kong Marine Department (MD) has launched the Green Maritime Fuel Bunkering Incentive Scheme to encourage “pioneer companies” to start green maritime fuel bunkering businesses in Hong Kong.
Under the current tranche of the Scheme, which targets liquefied natural gas (LNG) and green methanol, an incentive of HK$500,000 (approximately US$63.700) will be granted to each company for each of its first two LNG or green methanol bunkering operations completed within one year from the MD’s acceptance of its risk assessment.
Pioneer companies that have already completed the relevant assessments and/or bunkering operations before the Scheme launch are also eligible to receive incentives under the scheme.
The maximum amount of incentive for each type of recognised green maritime fuel is HK$2,000,000 (approximately US$254.800), and incentives will be disbursed on a first-come, first-served basis.
“The development of green maritime fuel bunkering capabilities in Hong Kong will allow us to capitalise on the existing unique advantages of our port, including our location at the southernmost tip of China next to the international fairway, to maintain our positioning as a major bunkering port and international maritime centre. The Scheme will help encourage pioneer enterprises to start green maritime fuel bunkering businesses in Hong Kong early, as well as help level the playing field between pioneers and late joiners,” said a Hong Kong Marine Department’s spokesperson.
The incentives will help “pioneer companies” in their preparatory work, which includes risk assessments that are required before carrying out green maritime fuel bunkering.
The MD has established a team that provides one-stop services to companies interested in setting up green shipping-related businesses in Hong Kong.
“At the same time, we also provide clear guidelines and support to companies interested in conducting green maritime fuel bunkering operations in Hong Kong, to facilitate their smooth completion of the relevant assessments and pre-bunkering procedures,” the spokesperson continued.
The government promulgated the Action Plan on Green Maritime Fuel Bunkering on November 15, 2024, setting out clear targets, five green-centric strategies and 10 actions to support the development of green maritime fuel bunkering and trading in Hong Kong.
One of the actions proposed in the Action Plan is to set up a Green Maritime Fuel Bunkering Incentive Scheme, which serves to encourage pioneer companies to develop green maritime fuel bunkering business in Hong Kong.
