As the European Union prepares its next long-term budget, the Shipyards & Maritime Equipment Association of Europe (SEA Europe) has urged the European Commission to address the current funding fragmentation with regard to the maritime sector.
“Rather than dispersing maritime support, the maritime technology industry requires a dedicated funding channel to facilitate impactful investments in low-emission vessels, sustainable and digitalised technologies, efficient production processes, alternative fuels, and workforce upskilling in the maritime economy,” the association, which represents the maritime technology industry in 17 countries, stressed.
Every seven years, the European Union sets its investment priorities in its long-term budget — the Multiannual Financial Framework. The European Commission will soon propose the next one, starting in 2028.
Public investment is said to have a crucial role in driving the greening and digitalization of the maritime sector, the blue economy, and the waterborne value chain. Significant financial resources are available under the EU budget to support the green transition and digital transformation, particularly through Horizon Europe, the Innovation Fund, the Connecting Europe Facility and Structural Funds.
However, these cross-sectoral programs create a fragmented funding landscape with diverse management systems and procedures, lacking overall coherence, Sea Europe claims. As a result, industry stakeholders struggle to navigate the system, leading to ‘missed opportunities for impactful and innovative projects’.
In 2020, the European Parliament proposed an ‘Ocean Fund’ financed through Emissions Trading System (ETS) revenues to enhance ship energy efficiency and support investments in innovative technologies. However, the initiative was not pursued and ETS revenues from shipping were instead absorbed into the general Innovation Fund.
“This was a missed opportunity to accelerate the carbon-neutral, sustainable, and digitalized blue economy and waterborne value chain,” Sea Europe said.
The association has now responded to the commission’s public consultation and is calling for:
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