Carbon Intensity Indicator (CII)

IMO’s Pivotal Shipping Announcement Can Push Many Vessels To Scrappage!

Credit: Smaart company

Shipowners face an ultimatum in 2023, upgrade their Carbon Intensity Indicator (CII) technology to comply with new laws or scrap their vessels.

New Carbon Targets

The move comes as the International Marine Organization (IMO) in July announced new carbon targets, which include a 20% reduction in emissions by 2030, a 70% reduction by 2040 (compared to 2008 levels), and the ultimate goal of net-zero emissions by 2050.  Chris Birkert, AkzoNobel Marine’s Coatings Segment Manager,...

https://mfame.guru/imos-pivotal-shipping-announcement-can-push-many-vessels-to-scrappage/

‘Ship Scrap Flood’:15,000 Ships To Be Scrapped By 2032

Credits: Cindy Shebley/ Pexels
  • Over the past 10 years, 7,780 ships with a deadweight capacity of 285m tonnes were recycled.
  • Historically about 50% of bulk, tanker, and container deadweight capacity has been recycled by the time the ships would have been 25 years old.
  • More than 3,500 ships a year need to be built or refitted, every year, until 2050, according to analysis by Shipping Strategy

The long-awaited flood of ship scrap candidates could top most projections, new analysis from BIMCO, the...

https://mfame.guru/ship-scrap-flood15000-ships-to-be-scrapped-by-2032/

High Costs Setback To Green Transition In Maritime Transportation

Credit: Klaus/Pexels
  • High costs are putting obstacles in the way of ocean carriers trying to go green, heard a seminar on sustainable maritime transportation last week.
  • A representative from the Vietnam Ocean Shipping JSC (VOSCO) said the CII-compliant costs incurred by global carriers could amount to 3 trillion USD in the next decades.
  • VIMC has sent an appeal to the IMO, asking for different time frames for vessels in different regions to give small-scale carriers more time to adapt to the new...

https://mfame.guru/high-costs-setback-to-green-transition-in-maritime-transportation/

Complying With CII Through Digital Technology

Credits: Venti Views/ unsplash
  • The International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII) will be applied to all vessels from 2023.
  • It will impact operational measures with the aim of reducing emissions.
  • The challenge for ship owners is to adequately prepare for its implementation. Digital technology will play a vital role in meeting this challenge.

The IMO has developed its CII regulation as part of its strategy for supporting the UN’s climate action targets by...

https://mfame.guru/complying-with-cii-through-digital-technology/

Older box ships enjoying a busy ‘last summer’ before new emission rules

Continued strong demand for container tonnage has resulted in many sizes now being totally ‘sold out’ and their resulting soaring asset values decimating vessel scrapping in the sector.
Shipowners, struggling to obtain $4,000 a day for an elderly fuel-guzzling panamax ship five years ago could now fix the same ship for three-five years at a fixed-rate daily hire in excess of $50,000.
And today that ageing 5,000 teu panamax could have a …

The post Older box ships enjoying a busy ‘last summer’...

https://theloadstar.com/older-box-ships-enjoying-a-busy-last-summer-before-new-emission-rules/

RightShip: IMO mandate may be too slow to reduce global supply chain emissions

RightShip: IMO mandate may be too slow to reduce global supply chain emissions

RightShip CEO, Steen Lund

London, UK, 20 October 2021: Today, RightShip, the world’s biggest third party maritime due diligence organisation and safety experts, has argued that the IMO’s Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) to reduce greenhouse gas (GHG) emissions slated for 2023 may be too slow to enforce change by only factoring in operational considerations, missing out...

https://allaboutshipping.co.uk/2021/10/20/rightship-imo-mandate-may-be-too-slow-to-reduce-global-supply-chain-emissions/

KR provides comprehensive EEXI/CII services to support industry transition

KR provides comprehensive EEXI/CII services to support industry transition

KR preliminary analysis reflects the outcomes of 76th MEPC session

Comprehensive presentation now available on Youtube

Korean Register (KR) has conducted a preliminary analysis to ascertain the industry’s readiness for the IMO’s new Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) regulations, and has released a comprehensive presentation on Youtube to help shipowners prepare and manage...

https://allaboutshipping.co.uk/2021/06/28/kr-provides-comprehensive-eexi-cii-services-to-support-industry-transition/

BIMCO Addresses Carbon Challenges With New Charter Party Clauses

  • BIMCO’s documentary experts have begun preparing charter party clauses.
  • BIMCO will also look closely at emission trading schemes currently under discussion and how they be dealt with in charter parties.

BIMCO’s documentary experts have begun preparing charter party clauses to assist owners and charterers comply with complex new carbon regulations due to come into force in 2023, says an article published in BIMCO.

BIMCO’s Study for IMO’s Implications

An impact study by BIMCO and several key...

https://mfame.guru/bimco-addresses-carbon-challenges-with-new-charter-party-clauses/

IMO Approved MARPOL Amendments Opposed by Environmental Groups

The IMO approved amendments to MARPOL to reduce greenhouse gas (GHG) emissions from ships, says an article published in Lloyd’s List.

Amendments approved 

The IMO approved draft amendments to MARPOL on short-term measures to reduce greenhouse gas (GHG) emissions from commercial shipping.

The additional regulations were approved at IMO’s 75th session of Marine Environment Protection Committee (MEPC 75), underway virtually this week.

Reduce emission by 40% by 2030

The new measures add to already...

https://mfame.guru/imo-approved-marpol-amendments-opposed-by-environmental-groups/