World News
IMO Carbon Intensity, Efficiency Index for Ships Comes Into Force
Two planks in the regulatory push to curtail greenhouse gas emissions from ships came into force on November 1.
Rules on carbon intensity (Carbon Intensity Indicator - CII) and ship operational efficiency (Energy Efficiency Existing Ship Index - EEXI) were drawn up in 2018 as part of the International Maritime Organisation's initial strategy on ships' emissions. CII and EEXI are technical and operational amendments to that strategy.
"From 1 January 2023, it will be mandatory for all ships to calculate their attained EEXI to measure their energy efficiency and to initiate the collection of data for the reporting of their annual operational CII and CII rating," the IMO said in a statement.
The first annual reporting will be completed in 2023, with initial ratings given in 2024, the statement added.
EEXI works by comparing a ship's attained efficiency to the required efficiency for that class of ship.
CII determines "the annual reduction factor needed to ensure continuous improvement of a ship's operational carbon intensity within a specific rating level". Rated A to E, (where A equals the best) vessels that get poorer ratings over time will need to take corrective action.
In addition to burning low-emission fuels, ships can reduce their carbon output by reducing hull drag and slow steaming.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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