The Hellenic Ministry of Shipping announced the formation of a “green” fund for coastal shipping

By 27 January 20232023 Newsletter week 4
January 27, 2023

The formation of a state fund, for the “greening” of the coastal shipping fleet, was announced by the Greek Minister of Shipping and Island Policy the previous days.

According to the Minister, a consultant will be selected in order to proceed with the specific process after an international competition.

Meanwhile the EU has provided the Hellenic Coastal Shipping with an extension until 2030 to adapt to the new environmental requirements (exemption from the Emissions Trading System).

The Ministry of Shipping has already launched a series of actions for the financing and adapting coastal shipping to the new requirements of the EU.  The main axis of this plan is the financing of the barren coastal shipping lines and not the companies. Through a tender, the barren lines will be subsidized with a multi-year contract, while the contracting company will have the obligation to introduce a new “green” ship.

The construction of the “green” ship will be funded through the “National Strategic Reference Framework” (NSRF) as well as the “Nearchos” fund.