RightShip updates ratings to include EEXI

RightShip’s proprietary GHG Rating algorithm already uses data and outputs from either the Existing Vessel Design Index (EVDI), or the Energy Efficiency Design Index (EEDI) to generate a simple A – G rating of the theoretical CO₂ emissions of a peer group of vessels across similar size and type.

The organisation be also be changing its GHG Rating methodology to remove the undue mathematical influence of power limitation. “This will ensure we continue to provide a ‘level playing field’ for the GHG Rating as a relative measure of efficiency between similar vessels.”

The changes are designed to provide a transparent and fair GHG Rating and reward those who invest in decarbonisation through efficient design and energy saving equipment by allowing them to obtain superior ratings in their relative peer group.

A key point of note is the application of Engine Performance Limitation (EPL) or Shaft Power Limitation (ShaPoLi). RightShip’s existing GHG Rating allows only a singular EPL per ship. However, in the revised GHG methodology, additional EPLs and SHaPoLis implemented to achieve compliance will become acceptable.

To counter the unintended consequences of the EPL reliance to comply with the EEXI regulation, the revised GHG Rating will compare vessels in peer groups operating at the same speed (common speed), removing the undue mathematical influence of EPLs or ShaPoLis.

In addition, the updated approach will support ship owners, ship managers and/or ship operators to avoid policy level restrictions where charterers reject vessels that introduced an EPL or ShaPoLi, or elect not to choose vessels from older tonnage as part of their ESG policies.

EEXI figures and technical files can be provided from January 2023, feeding into RightShip’s existing GHG Rating. The methodology will be updated within the first quarter of the year 2023.

Since the 12-month data collection period for CII only commences on 1 January 2023, CII data and A-E ratings are not expected to be provided until early 2024. CII ratings will be updated on an annual basis. RightShip are currently evaluating the potential impact of the CII ratings system (A-E) against its GHG Rating (A-G) and will release further information in 2023.

Currently there are no changes to the standard RightShip vetting criteria, noting the IMO EEXI compliance requirements are captured within the Class Certification review. However, RightShip is working with key chartering customers to test and validate potential additional vetting criteria for GHG, EEXI and CII.