Unintended Consequences
The IMO's carbon intensity indicator (CII) and Energy Efficiency Existing Ship Design Index (EEXI) will come into effect on 1st of January 2023. These measures form a key part of the IMO's strategy to lower CO2 emissions from the industry. However, as is sometimes the case with regulation, unintended consequences can arise, which could in the short-term increase inefficiency of the fleet until industry practices adopt, or older vessels are removed from trading. Indeed, regulation also sometimes fails to account for commercial practices which are not always compatible with technical directives from the IMO.
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