GHG EMISSIONS RATING
A SYSTEMATIC AND TRANSPARENT MEANS OF COMPARING THE RELATIVE EFFICIENCY OF THE WORLD’S SHIPPING FLEET

The GHG Emissions Rating aims to increase transparency in the maritime industry by rating ships according to their efficiency, enabling users to make more informed decisions towards a more sustainable future.

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Unabated, shipping’s contribution to GHG emissions globally is projected to increase by an astounding 50% – 250% by 2050. In order to meet the long-term goals of limiting global warming to well below 2°C as outlined in the Paris Agreement, the substantial contribution of shipping to the world’s GHG emissions will need to be significantly reduced. RightShip’s GHG Emissions Rating offers a strategic market mechanism to lift the standard and efficiency of vessels worldwide.

RIGHTSHIP'S GHG RATING

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RightShip’s GHG Emissions Rating was developed in response to the growing trend of global CO2 emissions and customer demand. It offers a systematic and transparent means of comparing the relative efficiency of the world’s shipping fleet.

The GHG Rating compares a ship’s theoretical CO2 emissions relative to peer vessels of a similar size and type using an easy to interpret A – G scale.

KEY BENEFITS

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  • Increases transparency in the shipping industry by ranking ships according to their energy efficiency and GHG emissions.
  • Assists the maritime industry to transition to a low carbon economy through informed selection of more efficient ships.
  • Provides the ability to benchmark and track emissions per journey and over time, which can aid the development of a baseline of emissions and an overall carbon-emissions target.
  • Charterers can identify more efficient vessels and reduce their bunker bills.
  • Shipowners can benchmark their vessels against peer vessels to demonstrate the benefits of investing in efficiency.
  • Financial institutions can reduce their risk by investing in efficient vessels ensuring a greater return on investment over the life of the asset.
  • Ports can reward efficient vessels through port incentive programs – reducing CO2 emissions and other criteria pollutants in port, and for the vessel’s entire journey.

GHG RATING METHODOLOGY

A vessel's GHG Rating is presented using the standard European energy efficiency scale. The relative performance of a vessel is rated from A through to G, the most efficient being A, the least efficient being G.

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INDUSTRY UPTAKE

The Rating is increasingly being used by charterers, shipowners, financial institutions, and is also gaining momentum as an evaluation tool in various port incentive programs.

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As of mid-2018, 85 organisations use the GHG Rating, including:

  • 55 charterers representing 20% of global trade who factor energy efficiency into their vessel selection through RightShip’s GHG Rating. This accounts for 2.4 billion tonnes of cargo or approximately 31,500 annual vessel movements.
  • 24 shipowners and managers who utilise the GHG rating to demonstrate the benefits of investing in efficiency.
  • 4 banks and insurers, 2 ports and 3 terminals also use the GHG Rating in their business processes and these numbers are growing.

ACCESSING THE GHG RATING

The GHG Rating is publicly accessible via www.shippingefficiency.org, or the enhanced version is available to customers via our vetting platform RightShip Qi.

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Access to Qi allows users to compare a ship’s environmental performance with other vessel data and fleet lists, as well as providing more background information and reporting tools.

ENERGY EFFICIENCY MEASURES

If you would like to improve the GHG Rating of your vessel, and have had your vessel verified by RightShip, we suggest you seek advice from a suitable third party. This could include a Class Society, engine manufacturer or technology provider to advise of any energy efficiency measures that may improve your vessel’s rating.

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In advance of planned vessel upgrades you may like to contact environment@rightship.com to discuss the potential improvements in GHG Rating. Some examples of voluntary energy efficiency measures or upgrades that may lead to a GHG Rating improvement include:

  • ‘Major conversion’ – e.g. alter ship dimensions, cargo carrying capacity or engine power of the ship, or
  • ‘Mechanical / electrical measures’ – technological measures for improved energy efficiency.

In order to demonstrate the improvements from any voluntary energy efficiency measures, RightShip requires a suitable statement / certificate from Class or appropriate third party detailing the work undertaken and any improvements in energy efficiency.

Please note that ‘operational measures’ (e.g. low friction paint, etc.) cannot usually be isolated from the EVDI equation and are normally not taken into account. It is also important to note that having one aspect of a vessel retrofitted / upgraded will not ensure the same for all other aspects. This is especially so in older vessels that require a re-sea trial, where we are comparing the results to the sea trial recently undertaken with that undertaken when the vessel was new. We therefore cannot guarantee that an upgrade or retrofit would necessarily improve the vessel’s GHG Rating.

VESSEL VERIFICATION

GHG Rating source data, assumptions & documentation

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CASE STUDY

ODFJELL’S BOW CLIPPER

Odfjell set about improving the fuel efficiency of their Kvaerner class vessels in close co-operation with MAN Diesel & Turbo, Grenaa Motorfabrik, ABB AS Turbocharging, and Marintek. RightShip were also consulted early in the project to understand the requirements for verification, and also the potential improvements in the GHG Rating.

The upgrades included new energy efficient propeller blades, rudder-bulb and technical upgrades of the main engine, turbo chargers and shaft generator. The combined upgrades reduced fuel consumption and emissions by over 20% – an outstanding outcome.

The Bow Clipper is now amongst the most energy-efficient chemical tankers in the world for its size, and is A rated for GHG emissions. The press release for this case study can be found here.

TIDAL NEWSLETTER

Tidal provides subscribers with updates from RightShip relating to environmental sustainability. Tidal newsletters are sent out every few months.