In 2023 we will see the start of the implementation of the Carbon Intensity Indicator (CII) and Energy Efficiency Existing Ship Index (EEXI) regulations, but more than anything it will be a year where the marine industry needs to better understand what these regulations mean. 

For most vessels, owners have already made efficiency calculations and taken steps, such as reducing speed (slow steaming), to ensure they are within regulatory limits. However, the impact of the regulations will not really be seen until 2024, when figures for 2023 are submitted.

During 2023, vessels will gather data for submission the following year. The need to understand how these figures fit with regulations makes digital fleet management tools more important than ever. For sure, 2024 will be the year when the industry must really focus on the targets of environmental friendliness

During 2023, vessels will gather data for submission the following year. The need to understand how these figures fit with regulations makes digital fleet management tools more important than ever. Afterall, the choices made during the coming year will define ships’ ratings in 2024. To this end, the shipping industry must digest, properly manage, and better understand the impact of the regulations in the coming year. 

There will certainly be areas where the regulations will need to be adapted as we learn about their effectiveness and the resulting emission levels, and we should not expect to see the improvements in emissions we may expect until some gaps are filled. 

Questions such as the difference between a fully loaded vessel that is adding value to the economy and one that is carrying ballast, and the differences between vessels in anchorage and those that are drifting, accumulating miles. Addressing issues such as these will better ‘level the playing field’ for shipowners and add value to the regulations. Other open questions that will affect the direction of the industry include how the EU Emissions Trading Scheme (ETS) will expand into shipping.

For sure, 2024 will be the year when the industry must really focus on the targets of environmental friendliness. 2023 is a year when we must learn and understand in preparation.