News / Shipping giants reticent as IMO ship efficiency measures enter force

The International Maritime Organization’s (IMO) latest emissions reduction measures came into force today, a regulatory move which will grant an ‘efficiency rating’ to ships, similar to those used for buildings and household appliances.

The new rules, although enacted today, will only become mandatory from 1 January, are expected to drive older ships to the scrapyard, while others will need to reduce speed to comply.

So next year there is an expectation that there will be an effective reduction in available capacity, offsetting ...