Annual Efficiency Ratio development (AER)

37% reduction since 2009

Full AER/CII compliance for all vessels

Ethylene fleet: With 2% AER reduction
per year for E-class and modified H-class, the vessels will
keep their B rates in 2026 and continue on a C rate up to
2030.
LGC fleet: With 2% AER reduction from 2026-2030, based
on existing LGC modifications and continued pattern of
operational improvement, the LGC fleet will be in IMO
compliance in 2030.
VLGC fleet: Assuming continuous AER reduction from
2026-2030, the fleet average required in 2030 should be
within requirment levels. Due to CII requirements, not the
EEXI certification, speed for some of the vessels in 2030
will be limited to achieve compliance.

AER reduction 2009-2025

Ethylene fleet: 40 %
VLGC fleet: 20 %
LGC fleet: 26 %
Total fleet: 37 %

Energy Efficiency Operational Indicator (EEOI

49% 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 weight/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.

 

EEOI reduction 2009-2025

Ethylene fleet: 46 %
VLGC fleet: 20 %
LGC fleet: 23 %
Total fleet: 49 %

Solvang energy consumption and GHG emissions

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

From 2009 to 2025:
Average emission per vessel decreased by 20.3 %
Increase in cargo capacity 25.1 %
Increase in dead DWT 12.8 %