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ity. The red area in the North West Australia is centered on the ency is key. The analysis in this article is just a small example port of Newcastle, the vessel type’s namesake. of the insights available with access to the right data.

EEXI estimations show that it’s likely about 60% of ves- Currently, the majority of the bulker ? eet is not compliant, sels of this type will not be compliant with EEXI. In order to and achieving compliance may jeopardize earnings potentials achieve compliance, these vessels will need to limit their max- or require ship owners to install new technology onto their ves- imum engine power, by undergoing an Engine Power Limi- sels. Vessels that are already compliant, however, will have bet- tation (EPL) procedure. By working backwards through the ter prospects, incentivizing the development of a more ef? cient

EEXI equation, we can calculate the percentage engine power and environmentally friendly ? eet. Analytics can help make the reduction needed to reach compliance for every non compli- IMO’s decarbonization regime more transparent and more ef- ant Newcastlemax, or the EPL percentage. For some older ? cient and help all those involved beat the numbers game.

tonnage, this is as high as 17% to 18%. Using the widely ac- cepted cube law relating speed and power, we calculate that the average non compliant Newcastlemax will need to reduce its speed by c.6% as a result of EPL. This speed reduction may have a direct effect on how much vessels can earn on the char- ter market, with slower operating vessels experiencing lower earnings. Figure 3, to the right, shows that vessels built after 2015 are, on average, compliant with EEXI regulation. This suggests that ? eet carbon ef? ciency is improving, and IMO regulation may be having the desired affect.

Conclusion

To improve something, you need to start by measuring it,

Figure 3: Source VesselsValue and for shipping to reach its decarbonization targets, transpar-

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