The Next Generation Shipping Act is designed to promote the development and use of zero-emission vessels in the maritime industry, supporting research, design, and deployment of these environmentally friendly technologies. It also aims to retrofit existing vessels with new technologies that reduce emissions and establish the necessary infrastructure for charging and fueling these vessels. Central to the act is the creation of the Next Generation Shipping Innovation Program, which will provide financial support for eligible projects through grants, low-interest loans, and loan guarantees.