In 2022, the International Maritime Organization (IMO) finalized and prepared for the implementation of two pivotal greenhouse gas reduction measures: the Carbon Intensity Indicator (CII) and the Energy Efficiency Existing Ship Index (EEXI). The EEXI, a technical measure, required existing ships to meet specific energy efficiency standards, largely through engine power limitations or retrofits, effective from January 1, 2023. The CII, an operational measure, mandated that ships track and report their annual carbon intensity, with a rating system (A-E) designed to incentivize continuous improvement, also commencing in 2023.
These regulations prompted shipowners and operators to assess their fleets, accelerate investments in energy-saving technologies, and explore alternative fuels. The industry response included increased research into ammonia, methanol, and hydrogen as potential future marine fuels, alongside a focus on optimizing operational practices like slow steaming. The introduction of these measures underscored the growing regulatory pressure on shipping to align with global climate targets and move towards a greener future.