Regarding the IMO's EEXI regulations (Feat. Maersk)
Regarding the IMO's EEXI regulations that will come into effect on January 1, 2023, I summarized the comments of CEO Maersk, the largest container shipping company.
Summary: Estimating that compliance with IMO 2023 regulations will have a significant impact on ship supply in the container shipping market in the long term
1. IMO Environmental Regulation Definition
As of January 1, 2023, the shipping industry must meet new vessel efficiency and carbon strength regulations that apply to existing vessels. In practice, this requires ships to meet certain Energy Efficiency Existing Ship Indexes (EEXI), establish an Enhanced Ship Energy Efficiency Management Plan (SEEMP) that sets out stages for improving the ship's energy efficiency, and determine the Carbon Strength Indicator (CII) grading system. means to do
The regulation aims to reduce the carbon intensity of all ships by 40% by 2030 compared to 2008 levels.
2. Maersk CEO: How to respond
There are many ways to improve the energy rating of older ships.
The first is to use biofuels, the second is to slow it down. These are the two most obvious ways to move an energy class from D to C.
3. Maersk CEO: Impact
If the way we comply is to slow down, it looks like we'll need 5-15% more capacity by 2030
If compliance-based, given the scarcity and price of biofuels, the most likely option is to slow it down.
4. Conclusion
In other words, according to CEO Maersk, it seems likely that the most effective slowdown method will be chosen for EEXI compliance. This is because the stability of the price and availability of eco-friendly fuels has not yet been supported. However, it was mentioned that if the speed is slowed, an additional 5~15% of the capacity is needed to satisfy the punctuality of the ship.
Previously, the introduction of EEXI resulted in an increase in the number of decommissioned vessels, which was believed to have an effect of increasing freight rates by reducing the capacity. In addition, since the speed reduction option requires an additional minimum capacity, it seems to have a positive effect on freight rates, which slightly offset the increase in supply in 2023.
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