With just 163 days to go until the IMO’s Energy Efficiency Existing Index (EEXI) comes into play, more than 75% of all tankers, bulkers and containerships will not be compliant, according to a new report from VesselsValue.

“The challenge of decarbonization will extend to all areas of shipping, and EEXI alone will present a myriad of challenges to owners, operators and financiers,” the report states.

Writing for Splash earlier this month, Simon Hodgkinson, head of loss prevention at West P&I, suggested that the new rule could be one of the most significant new shipping regulations in years, potentially leading to a fundamental shift throughout the industry.

“Knowledge is a shipowner’s best friend, and owners that do not yet know their EEXI scores should find out as soon as possible. The only way to guarantee a smooth compliance journey as possible is to use this information to start planning now,” Hodgkinson wrote.