US 2009 Ship Efficiency and Credit Trading Proposal

In 2009, the US made an IMO proposal calling to group ships of similar size together, then establish goals of specific improvement in the average efficiency of the world’s fleet for each class and size. Each vessel would be judged against a requirement to improve its efficiency compared to the average of the specific vessel class. Compliance could be achieved by either actual emissions reductions or purchasing efficiency credits from more efficient vessels.