Isle of Man Ship Registry partners with FuelTrust to qualify vessels for green incentives

FuelTrust, a Green Marine partner since 2021 dedicated to creating a trusted sustainable fuel ecosystem for the maritime industry, and the Isle of Man Ship Registry (IOMSR), one of the world’s leading maritime registers of ships, have signed a Memorandum of Understanding to collaborate on projects to incentivize and facilitate emissions reduction.

A new IOMSR program has the Isle of Man set to become the very first flag state to incentivize ship owners by offering a discount on registration fees for vessels deploying green technology. FuelTrust’s fuels and emissions digital technology will be used by the IOMSR to validate a vessel’s qualification for the  Green Ship discount. IOMSR’s ship owners and operators will use FuelTrust’s Insights to predict, measure and authenticate their fleet emissions reduction.

Founded as a software-as-a-service (SaaS) enterprise in 2020, FuelTrust leverages its Risk Provenance Platform technology to ensure that companies have authentic relationships across fuel lifecycles. Headquartered in Houston, Texas, it uses advanced AI technology to digitally verify data from shared sources, validate decarbonization and compliance, and identify potential risks, including fraud.