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Verifavia launches industry’s first CII to determine operational efficiency and ratings of vessels

Flexible digital platform ensures simple and accurate recording of vessel ratings as well as ongoing guidance for vessel efficiency to meet emission regulations.
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 Independent carbon emissions verification firm Verifavia Shipping in late November launched the world’s first real-time Carbon Intensity Indicator (CII) Dashboard to determine the operational efficiency and CII rating of ships over 5,000GT. 

The flexible digital platform ensures simple and accurate recording of vessel ratings as well as ongoing guidance for vessel efficiency to meet emission regulations.

Verifavia’s CII Dashboard is the industry’s first online platform which provides shipowners, operators, charterers and other users with access to a vessel’s current and predictive CII rating. One of the main features of the dashboard is a calculator which can forecast a vessel’s CII rating for a single voyage, time period or reporting period. 

As the emission reduction rates for each year increase compared to 2019 levels, the calculator provides a roadmap for shipowners to understand when vessels, and specific voyages will comply with CII regulation, and to anticipate any changes required to meet compliance. 

The CII dashboard requires very little internet bandwidth and offers a clear, efficient and accurate management system for emissions data.

The Carbon Intensity Indicator (CII) is a new measure based on an operational approach that supports the International Maritime Organization’s (IMO) objective of reducing the carbon intensity of international shipping by 40% by 2030, compared to 2008 levels. The CII rating scheme will apply to all cargo and cruise ships of 5000GT and above, which equates to all the ships which are already subject to the requirements of the IMO Data Collection System.

To comply with regulation, the actual annual operational CII achieved (attained annual operational CII) must be documented and verified against the required annual operational CII. It will determine the operational carbon intensity rating on a scale – A, B, C, D or E – indicating the performance level. The performance level will be recorded in the ship’s Ship Energy Efficiency Management Plan (SEEMP).

A ship that is rated D for three consecutive years or E for one year should come up with a corrective action plan showing how the required index of C or above will be achieved. As charterers, administrations and port authorities are being encouraged to provide incentives to ships rated as A or B, maximising vessel efficiency will provide competitive advantage for the long term.

Julien Dufour, CEO, Verifavia Shipping, commented: “Launching shipping’s first real-time CII Dashboard ensures the industry has access to a simple, reliable, digital solution to meeting the latest emissions regulation. Using transparent data, the dashboard can predict the emissions of specific voyages, helping shipowners to plan ahead and simulate future situations, and understand where vessels do not comply and what can be done to meet compliance. It makes reporting clear and simple, as well as providing transparent data for charterers.

“As the CII rating will be based on verified reports of IMO’s Fuel Oil Data Collection System, experience in the verification of carbon emissions, the additional requirement of CII seamlessly falls into Verifavia’s verification process for IMO DCS. 

“The deadline for compliance is January 2023, which will be here before we know it. We believe our new dashboard is a cost-effective means of allowing shipowners and operators to plan and prepare ahead of time, anticipating the need for any operational or vessel design changes in advance, and making vessels more attractive to charterers.”

Verifavia Shipping is the world’s first and only accredited verifier for EU MRV and IMO DCS by seven flag states including Liberia & Panama. Verifavia also already works with over 200 companies and over 2,000 ships under EU MRV /IMO DCS contract.

 

Photo credit: Cameron Venti from Unsplash
Published: 6 December, 2021

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Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

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July 21, 2026

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Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July). 

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions. 

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Related: Singapore: Hin Leong Founder OK Lim gets jail term slashed to 13.5 years

 

Photo credit: Sora Shimazaki
Published: 21 July, 2026

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Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

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17 hours ago

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July 21, 2026

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RESIZED Drew Beamer

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

  • That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

  • that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
  • that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
  • that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd. 

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Related: Singapore: Director declares Heng Tong Fuels & Shipping’s inability to continue business
Related: Heng Tong Fuels & Shipping in court over DBS Bank bunker tanker loan
Related: Singapore: Bunker tanker “Coastal Neptune” arrested
Related: Heng Tong Fuels & Shipping, Coastal Logistics tankers enter S&P market

 

Photo credit: Drew Beamer
Published: 21 July, 2026

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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July 21, 2026

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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