What is IMO 2023?

September 16, 2022

IMO 2023 - new regulations for vessel owners

As the importance of sustainability increases in the shipping industry, important changes are about to take place in 2023 in order to maintain and improve the marine industry's impact on the environment.

Further regulations are being launched to improve vessel efficiency, encourage the introduction of alternative fuels to reduce carbon footprint, and reduce the impact of overall emissions by the shipping and maritime industry.

Vessel owners, therefore, need to take note of the new changes being implemented under the IMO 2023 initiative. IMO 2020 was the initial phase of goals set by the International Maritime Organization with rein order to drive the reduction of emissions in the shipping industry. The overall goal is a target set in the IMO Initial GHG (Greenhouse Gas) Strategy which highlighted the need to reduce carbon emissions from all ships by 40% by 2030, compared to 2008 figures..

Shipping vessels will need to meet an EEXI - Energy Efficiency Existing Ship Index as well as have a SEEMP - a Ship Energy Efficiency Management Plan which must highlight the steps being taken to improve the vessel's energy efficiency as well as an ability to calculate the CII - Carbon Intensity Indicator.

The IMO 2023 plans were actually determined in 2018 in order to provide five years of preparation time.

What is IMO?

The International Maritime Organization (IMO) is a specialized agency of the United Nations responsible for regulating global shipping. The IMO’s primary purpose is to develop and maintain a comprehensive regulatory framework for shipping. Its areas of focus includes safety, environmental concerns, legal matters, technical co-operation, maritime security and the efficiency of shipping. IMO is governed by an assembly of members and is financially administered by a council of members elected from the assembly

UPDATE September 2019

IMO 2020 are you ready? Scrubbers are being implemented

Beyond the cost, the ripple effects could be dramatic. The date for an 85% reduction in sulphur emissions for ocean-going vessels is closing in. Is your fleet ready?

What are scrubbers?

IMO2020 Scrubber Diagram