Estimations by the IMO put shipping emissions at 20% lower in 2012 than in 2007, a drop from 2.8% to 2.2% of global greenhouse gas emissions.

The figures are from an IMO study compiling data through satellite tracking, which is to go before the next IMO Marine Environment Protection Committee (MEPC 67) in October, and were cited by ICS at the UN Climate Summit in New York today.

“The latest IMO study suggests there’s been a significant reduction in absolute CO2 emissions from ships due to the introduction of operational efficiency measures across the whole fleet,” said ICS secretary general Peter Hinchliffe. “This includes operating at slower speeds, combined with more fuel efficient designs on board the large number of new build vessels that have recently entered the market.

“The reduction in CO2 per tonne of cargo carried per km by ships is even more impressive than the headline IMO figure for absolute GHG reduction because cargo moved by sea has continued to grow since 2009.”

Hinchliffe added: “The shipping industry fully recognises that governments expect even greater CO2 efficiency improvements in the future. Given the very high cost of fuel which is soon set to increase by around 50% due to separate new rules on sulphur the industry already has every incentive to deliver this.”

Last week, ICS vice chairman Esben Poulsson went on record highlighting the “unanswered questions” relating to implementation of the IMO’s Ballast Water Management Convention.