Measures to comply with GHG and NOX emissions-reduction regulations
First written in FY2020. 4 of 10 entries say "Worsened", first in FY2023-Q2. Latest entry: FY2025.
The whole theme swung hardest in 2023: 3 of 8 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「Our group has completed the following measures for existing vessels.」
For existing vessels, the company states that it has completed measures including the installation of EEXI-compliant engine power limitation systems, PBCF, environmentally friendly hull coatings and E-Course Pilot systems. - FY2024MitigatedAnnual report
「Our group has completed the following measures for existing vessels.」
For existing vessels, the company states that it has completed measures including the installation of engine power limitation systems for EEXI compliance, PBCF and fuel-saving and environmentally friendly hull coatings. Measures to address environmental regulatory risks are progressing. - FY2024-Q3WorsenedAnnual report
「Against this backdrop of the global economic environment, the ocean-going dry bulk shipping market appears to be improving, driven by the recovery of the Chinese economy amid a global slowdown caused by inflation and high interest rates, congestion in the Panama Canal, increased shipments from South America, longer voyages due to diversions around the Suez Canal and, increasingly, more pronounced slow steaming resulting from stricter environmental regulations」
Regarding slow steaming resulting from stricter environmental regulations, the impact has become more specific, changing from an “increase” to a “deepening.” Canal congestion and diversions, as well as slow steaming, are listed as factors affecting market conditions and vessel supply and demand. - FY2024-Q2WorsenedAnnual report
「Against this backdrop of the global economic environment, the ocean-going dry bulk shipping market appears to be improving, driven by the recovery of the Chinese economy amid a global slowdown caused by inflation and high interest rates, congestion in the Panama Canal, increased shipments from South America and, increasingly, more slow steaming resulting from stricter environmental regulations」
The company identifies the increase in slow steaming resulting from stricter environmental regulations as a factor influencing actual market trends. The impact has become more specific than the previous forecasts regarding EEXI, slow steaming and lower vessel utilization. - FY2023RestatedAnnual report
「To comply with the EEXI regulations, we will install engine power limitation (EPL) systems and take other measures to comply with the rules.」
Regarding GHG reductions, the company continues to recognize the international targets for 2030 and 2050 and the EEXI and CII regimes introduced in 2023, and states that it will proceed with measures including the installation of EPL systems. - FY2023-Q3WorsenedAnnual report
「Going forward, the Energy Efficiency Existing Ship Index (EEXI) regulations governing fuel efficiency for vessels in service will take effect on 1 January 2023. Utilization rates for existing vessels are expected to decline due to regulation-driven slow steaming and the accelerated scrapping of older vessels, while a reduction in vessel supply is also expected to contribute」
Regarding environmental regulations, the company specifically identifies EEXI, which took effect on 1 January 2023, and details the resulting effects on market conditions and operations, including lower utilization of existing vessels due to slow steaming and accelerated scrapping of older vessels, as well as reduced vessel supply. - FY2023-Q2WorsenedAnnual report
「Although conditions are expected to remain firm, new environmental regulations will take effect from January 2023, and utilization rates for existing vessels are also expected to decline due to slower vessel speeds and scrapping in response to the regulations.」
Regarding environmental regulations, including GHG and NOX regulations, the company recognizes the risk that utilization rates for existing vessels may decline as new regulations take effect from January 2023, due to slower vessel speeds and scrapping. - FY2022AdvancedAnnual report
「The IMO regulates measures to control greenhouse gas (GHG) emissions and has established the following targets: 1. reduce CO2 emissions by at least 40% by 2030, measured per transport work against 2008; 2. reduce GHG emissions by at least 50% by 2050 against 2008; and 3. achieve zero emissions as early as possible during this century.」
For GHG reductions, the company presents international targets for 2030 and 2050 and states its policy of installing engine power limitation systems to comply with the EEXI and CII regimes that took effect in 2023. The response to GHG and NOX issues has progressed from general recognition of the challenge to an explanation of specific regulatory timelines and equipment measures. - FY2021RestatedAnnual report
「To comply with the SOX emissions regulations introduced in 2020, the company switched to compliant fuel oil, reducing the sulfur content from 3.5% to 0.5%. Measures to address GHG (greenhouse gas) emissions reductions are also underway. In addition, compliance with Tier III NOX regulations is approaching.」
Even after completing compliance with SOX regulations, the company continues to identify measures to reduce GHG emissions and comply with Tier III NOX regulations as ongoing environmental challenges. - FY2020First statedAnnual report
「Measures to address GHG (greenhouse gas) emissions reductions are also underway, and compliance with Tier III NOX regulations is approaching.」
In addition to SOX regulations and the Ballast Water Management Convention, measures to reduce GHG emissions and comply with Tier III NOX regulations are identified for the first time as future environmental regulatory challenges.