There is a common misconception in the maritime industry that engine size is the primary factor determining a vessel’s GHG Rating & overall efficiency. In reality, a vessel’s GHG Rating can be influenced by hull design, fuel consumption rates, vessel design speed and engine power.
It is also a common belief that newer vessels are always more sustainable. However, as we can see in the interactive graph below, fleet efficiency rates do not always improve over time.
The top graph depicts trends in average main engine power (MCR), fuel consumption (SFC) and design speed (Vref) over the last 15 years. The bottom graph shows how vessel efficiency has changed, displayed in the average GHG Rating for vessels built each year. You can use the toggle on the top right hand side to alternate between the different vessel parameters.
You will notice that overall fleet efficiency has increased dramatically in recent years, and is increasingly being prioritised during the vessel design stage. This coincides with the introduction of the EEDI, as well as freight rates returning to more conservative levels.