NICE intends to work on both technical and operational approaches in order to develop an indicator that can effectively reflect all attributes of a ship's energy efficiency. Detailed technical and operational data of the Maersk fleet will be analyzed in order to estimate the effect of weather on fuel consumption, design a weather-normalized indicator and apply it on standardized pre-determined operational cycles that the project will develop for different ship sizes. Furthermore, the project will broaden the unit of concern from the single ship to a company or a fleet of ships. In this way, NICE attempts to capture the network effect on ship performance and reach the IMO carbon intensity targets at minimal cost for the ship operators/owners. The analysis will initially cover the containership segment, where networks comprise a key operational feature. Other challenges include the handling of energy consumed by reefers, the need to reposition empty containers, etc. The concept can afterwards be applied easily to other segments of the shipping industry.