Environmental group Transport & Environment said that benefits associated with a new emissions reporting law will be offset by industry growth.
A new European law which will make fuel efficiency data publicly available must be a "stepping stone" towards setting global carbon dioxide (CO2) emissions targets, argues sustainable transport group Transport & Environment (T&E).
The new Monitoring Reporting and Verification (MRV) regulation was approved in European Parliament earlier this week, and will require ship operators to report information on the environmental performance of ships.
The measures have long been called for by the organization and other NGO's such as Richard Branson's Carbon War Room.
T&E argues however, that any potential benefits that come from fuel efficiency is likely to be offset by growing transport demand, especially in light of International Maritime Organization (IMO) figures that estimates shipping emissions to grow between 50 and 250 percent by 2050.
Sotiris Raptis, Clean Shipping Officer, T&E
Only CO2 targets under the EU's 2030 plan and Energy Union can deliver actual emissions cuts
Though the new laws will improve transparency and provide greater incentive for fuel efficiency, "this is where our cheering stops," said Sotiris Raptis, clean shipping officer at T&E.
"Given that the sector's rapid growth is set to outstrip efficiency gains, only CO2 targets under the EU's 2030 plan and Energy Union can deliver actual emissions cuts."
Last week the Marshall Islands said it plans to bring forth a submission calling for a global CO2 target at the Marine Environment Protection Committee (MEPC) meeting scheduled for next month.
T&E estimates that the shipping industry currently accounts for around 3 percent of global greenhouse gas emissions.
Earlier this month, the organization also released a new report which claims that in terms of design efficiency, older ships built in 1990 are more fuel efficient than newer-built ships, much to the ire of the International Chamber of Shipping.