RightShip to cover EEXI values in GHG rating

Digital maritime platform RightShip is updating its greenhouse gas (GHG) rating tool to incorporate Energy Efficiency Existing Ship Index (EEXI) values from the first quarter of next year.

The changes being introduced will make its GHG rating the industry’s first rating to include the EEXI, the Existing Vessel Design Index (EVDI) and the Energy Efficiency Design Index (EEDI) all in one place, RightShip said.

“It has not been a simple task to combine all three indices,” said RightShip’s chief product officer, Christopher Saunders, adding: “We have moved towards a speed-corrected approach to compare vessels within peer groups, whilst retaining our original intent of providing a level playing field.”

RightShip’s rating methodology focuses on the inherent potential performance of a vessel based on its design, providing the basis for charterers and owners to make decisions. The EEXI assesses theoretical CO₂ emissions based on vessel design, naturally complementing RightShip’s established GHG Rating, which compares the theoretical CO₂ emissions of a peer group of vessels across similar size and type, based on either the EVDI, or the EEDI.

“The EEXI’s consideration of Engine Power Limitations (EPLs) and Shaft Power Limitations (ShaPoLis) could have led to artificial distortions, which incentivised some inefficient vessels, as well as discriminating against others. We have adjusted our methodology to correct for this so that the maritime community can continue to rely on our ratings to understand relative emissions efficiency between vessels,” Kris Fumberger, RightShip’s head of sustainability and environment, explained.

According to RightShip, 46,810 vessels on its platform have a GHG rating, with around 180 chartering customers leveraging the environmental rating in their due diligence processes in the last year alone. Shipowners and operators will be able to submit their EEXI data directly to RightShip and receive a verified rating. The company said it would also hold a webinar for those interested in understanding more about how EEXI will be incorporated into the revised rating.

Since the 12-month data collection period for CII only commences on January 1, 2023, CII data and A-E ratings are not expected to be provided until early 2024. RightShip is also looking into the potential impact of the CII ratings system against its GHG rating (A-G) and will release further information in 2023.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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