IMO 2023: All You Need To Know About the New Regulation

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Credits: Marek Piwnicki/Unsplash

Following the introduction of sulfur fuel regulations in 2020, the International Maritime Organization (IMO) will launch a new set of rules called IMO 2023 to further reduce carbon emissions from ocean freight.

IMO 2023 regulation is part of the International Maritime Organization’s (IMO) Greenhouse Gas Strategy (GHG), which aims to reduce carbon emissions from international shipping by 40% by 2030 and 70% by 2050 versus the 2008 levels.

New regulations targeting ships’ efficiency and carbon emissions, effective by January 1, 2023, are the next chapter in the green transformation of international shipping, creating a new wave of uncertainty and questions.

Here’s what you need to know about the new IMO 2023 regulation and what it means for sea freight.

What Changes Are Implemented by IMO 2023?

The IMO 2023 regulation affects both commercial and non-commercial vessels.

It introduces mandatory reductions in carbon emissions for both new and existing ships, using energy efficiency indicators to determine these levels.

The measures include the following:

  • The Energy Efficiency Existing Ship Index (EEXI)
  • The Carbon Intensity Indicator (CII) rating scheme

What is The Objective for Each of These Measures?

Overall, IMO 2023 aims to reduce carbon emissions from the global shipping industry by implementing new measures that promote greater fuel efficiency and reduced emissions in shipping.

Read Also: All You Need to Know About the IMO 2023 Regulation

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Source: IMO

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