In Q1 of 2023, RightShip’s GHG Rating methodology will be updated to incorporate Energy Efficiency Existing Ship Index (EEXI) values.
RightShip’s proprietary GHG Rating algorithm already uses data and outputs from either the Existing Vessel Design Index (EVDI), or the Energy Efficiency Design Index (EEDI) to generate a simple A – G rating of the theoretical CO2 emissions of a peer group of vessels across similar size and type.
The changes being introduced will include all three indices in RightShip’s GHG Rating. The GHG Rating methodology focuses on the potential performance of a vessel based in its design, providing a basis for charterers and owners to make decisions.
It has not been a simple task to combine all three indices. As such, we have moved towards a speed-corrected approach to compare vessels within peer groups, whilst retaining our original intent of providing a level playing field
RightShip’s Chief Product Officer, Christopher Saunders, said.
What is more, Kris Fumberger, RightShip’s Head of Sustainability and Environment, added that “the EEXI’s consideration of Engine Power Limitations (EPLs) and Shaft Power Limitations (ShaPoLis) could have led to artificial distortions, which incentivised some inefficient vessels, as well as discriminating against others. due to policy-level restrictions for charterers. We have adjusted our methodology to correct for this, so that the maritime community can continue to rely on our ratings to understand relative emissions efficiency between vessels.”
Vessel owners and operators will be able to submit their EEXI data directly to RightShip and receive a verified rating.
Amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI enter into force on 1 November 2022.
More specifically, from 1 January 2023 it will be mandatory for all ships to calculate their attained Energy Efficiency Existing Ship Index (EEXI) to measure their energy efficiency and to initiate the collection of data for the reporting of their annual operational carbon intensity indicator (CII) and CII rating.
As the requirements for EEXI and CII certification come into effect on 1 January 2023, the first annual reporting will be completed in 2023, with initial CII ratings given in 2024.
