Annual Efficiency Ratio development (AER)

35% reduction since 2009

Effect of upgrade and EEXI modification

In 2022 Solvang had 8 vessels categorized as D. In 2023 there were 3 D-vessels; one due to trade, the other two due to late dry-docking and modification at year-end, taking effect from 2024. In 2024, alle vessels will rate as C or better.

The average AER for the Solvang fleet and for the vessel groups has been recalculated in 2023. By using weighted average for transport work (dead weight * sailed distance), we get a better picture of the actual AER for the fleet.

AER reduction 2009 - 2023:
Ethylene fleet: 34 %
VLGC fleet: 17 %
LGC fleet: 21 %
Total fleet: 30 %

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).

Changing of cargo from ammonia to LPG for several of the LGC vessels increased EEOI. Also higher  consumption on some of the vessels due increased marine growth from waiting time in ports and canal inefficiencies.

Five LGCs dry-docked in 2023, giving positive effect. Sale of three older VLGCs since 2021 with a relatively high dead  weigth/cargo capacity ratio in CBM, contribute 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 the fleet expansion and more operations per vessel. In 2009 we operated 16 vessels and in December 2023 we had 22.

From 2009 to 2023:
Average emission per vessel decreased by 18.7 %
Increase in cargo capacity 25.3 %
Increase in dead DWT 15.6 %

Environmental Ship Index (ESI) score 2023

Rating of environmental performance. Best possible score is 100 points. This shows that the five newbuilds on the right side perform very good, around 90 points. All vessels with scrubber technology perform well.

ESI identifies seagoing ships that perform better in reducing air emissions than required by the current emission standards of the International Maritime Organization (IMO)