When veteran lender Morten Arntzen contemplates the new vessel efficiency standards confronting ship financiers, the words “back to the future” come to mind.

“It’s a return to the time when banks were active in bilateral mortgage financing — they’d get the vessel inspection reports and actually read them. We’re going to have to do that again,” Arntzen says of the Energy Efficiency Existing Ship Index and Carbon Intensity Indicator.

But while shipping lenders have been mobilising staff to prepare for the new protocols, there is no consensus on how important the banks will be in policing the rules.