You and the RightShip GHG Rating
Verifying your vessel's GHG Rating
On the RightShip platform, we display if a vessel’s GHG Rating has been verified by the shipowner. An unverified rating provides an indication of vessel performance as it is based on vessel specific IHS inputs, IMO assumptions and sister vessel data.
To help gather accurate data in the GHG Rating, RightShip provides all shipowners with the ability to submit documentation to confirm the inputs used in the calculation. Once checked through by our Sustainability team, the vessel is shown as having a verified GHG Rating on the vessel page.
Owners will benefit from verifying their vessels because the GHG Rating can be used as part of RightShip’s due diligence and risk assessment vessel vetting service. Our online vetting process notifies the owners of unverified vessels when the GHG Rating of their vessel is impacting the outcome of a vet. However, the delay associated with obtaining the relevant verification documents from the owner means that there is a commercial incentive for vessel owners to pro-actively verify their vessel’s ratings.
A fully verified vessel, which meets customer’s vetting criteria for the GHG Rating, passes through the vetting process in a seamless manner. This positions a verified vessel at competitive advantage over peer vessels that are unverified.
Incentivising new build designs
Our overarching goal is to improve sustainability standards in the maritime industry. To achieve this goal, we aim to reward owners who have prioritised efficiency with superior design, consideration of engine performance and build of their vessels.
Our GHG Rating aims to shine a light on the top tier of vessels operating in a segment, which will enable charterers, banks and shipowners to have more transparency in their decision making.
We understand that some of the biggest efficiency gains can be had at the design stage of a vessel. Therefore, we work with shipowners by providing pre-assessments of GHG Ratings prior to the final build stage, insights into efficient shipyards to build vessels, as well as benchmarking of previous vessel performance.
Continual improvement over a vessel’s life
RightShip also recognises the huge need to promote those who invest in sustainability advances in their current fleet. By investing in energy saving equipment, existing vessels can improve their efficiency and move up the GHG Rating bands.
Vessels that have been upgraded with energy saving equipment to operate more efficiently than designed are recognised through the rating. A vessel’s GHG Rating may improve and/or a plus sign (+) will appear next to the GHG Rating. The plus sign (+) increases visibility of a vessel among its peers. It also allows owners to clearly display the actions they have taken to improve their vessels environmental performance and then market them accordingly.