Annual Efficiency Ratio development (AER)

35% reduction since 2009

Effect of upgrade and EEXI modification

In 2022 Solvang had eight vessels categorized as D. In 2024 there were two vessels categorized as E, the rest are C or better. The two E vessels get a B rating if adjusted for port operation/idling.

Six LGCs and four ethylene vessels were dry-docked/ modified and EEXI certified in 2023/2024, giving full positive effect in 2024. The total fleet improvement between 2023 and 2024 is 5 %, where the ethylene and LGC fleets represent the main improvements, also due to major upgrades.

The sale of three older VLGCs since 2021 with a relatively high deadweight/cargo capacity ratio in CBM, contributes to an improved AER for the VLGC class, but negatively impacts the average for the fleet as a whole.

AER reduction 2009 - 2024:
Ethylene fleet: 37 %
VLGC fleet: 19 %
LGC fleet: 27 %
Total fleet: 35 %

Energy Efficiency Operational Indicator (EEOI

47% reduction since 2009

The average EEOI has been recalculated in a similar way as for AER, but weighing the average for transport work (cargo carried * sailed distance).

EEOI measures the fuel consumption per ton-mile cargo transported. The improvement measured as EEOI is close to 50 %. The introduction of new 88K VLGCs in 2026/27 is expected to further reduce EEOI.

The sale of three older VLGCs since 2021 with a relatively high dead weigth/cargo capacity ratio in CBM, contributes to improved AER for the VLGC class, but impacts the average for the fleet as a whole in a negative way.

Solvang energy consumption and GHG emissions

The total fleet emissions have increased due to expanded activity with more and larger vessels.

From 2009 to 2024:
Average emission per vessel decreased by 21.5 %
Increase in cargo capacity 21.4 %
Increase in dead DWT 15 %

Solvang vessels' energy consumption per fuel type in 2024.