The International Maritime Organisation (IMO) has agreed operational efficiency targets for existing ships under its controversial Carbon Intensity Indicator (CII) regulation.

From 2023 on ships will have to achieve a carbon intensity reduction rate of 2% below a 2019 reference line, the IMO said.

The target was agreed at the Intersessional Working Group on Reduction of Green House Gass Emissions from Ships and will run until a review in 2026.