Oslo, Norway, 31 May 2023: DNV, a leading maritime classification society, is gearing up to release a groundbreaking Recommended Practice (RP) that will revolutionize the measurement, evaluation, and verification of technical performance in operating ships. This RP is a direct response to the mounting regulatory and commercial pressures in the shipping industry, demanding a shift towards decarbonization and the establishment of a standardized, reliable procedure for assessing vessel efficiency.
In the aftermath of the introduction of the Carbon Intensity Indicator (CII), ships have been ranked based on their carbon emissions per unit of cargo-carrying capacity. However, the CII is susceptible to external factors like weather conditions, speed instructions, and loading conditions, often overshadowing a ship's true technical performance and efficiency. DNV's RP proposes the implementation of a Vessel Technical Index (VTI) as an additional measure, showcasing a ship's technical performance relative to its initial state, thereby eliminating the influence of external operational factors. Furthermore, the RP incorporates an innovative approach to evaluating the relevant sources of uncertainty, empowering users to make informed decisions based on VTI calculations.
"Regulations and other stakeholders, such as cargo owners and financial institutions, will increasingly exert pressure on the shipping industry to decarbonize. Reducing emissions and substantiating these efforts will become crucial in a commercial landscape where enhanced technical performance is likely to become a prerequisite for shipowners to access capital and cargo," stated Trond Hodne, Business Director Maritime at DNV.
Hodne further explained, "Our new RP primarily addresses an area that shipowners have direct control over—the technical condition of their vessels."
The VTI is envisioned to be utilized in the following ways:
- Establishing a standardized methodology for working with performance data and creating a performance baseline.
- Facilitating the development of dynamic and performance-based charter party agreements.
- Assessing the optimal timing for hull and propeller cleaning and quantifying its impact.
- Evaluating and quantifying the effectiveness of energy efficiency measures.
By introducing this RP, DNV aims to establish an accurate and transparent standard that, in conjunction with independent third-party verification, will foster trust among stakeholders seeking to leverage technical ship performance as the foundation for sustainability-linked business practices.
The DNV RP was opened for consultation with the maritime industry on May 31st and is expected to be finalized and published in the third quarter of 2023.
