The IMO approved a Data Collection System regulation in 2017 (MEPC 292(71)) requiring all ships to report fuel consumption, distance, and time at sea, which would be disclosed publicly on an anonymized, aggregate basis. The move responded to a more ambitious 2015 EU regulation (2015/757) on Monitoring, Reporting, and Verification of CO2 emissions. The EU’s 2015 MRV regulation requires all ships entering an EU port from 2018 on to publicly report the amount of fuel consumed, distance, time at sea, and cargo carried on any journeys to or from the EU. The EU estimates that the regulation will reduce greenhouse gas emissions by 2% by virtue of giving cargo owners the ability to select for efficient ships.