While there have been no specific fines announced for ships as of yet, the expectation is that there will be and that they will be significant. Further the IMO has encouraged stakeholders to “provide incentives to ships rated as A or B.” Ship charterers will be incentivised to use ships with a higher rating. By upgrading a ship's rating, shipowners will have a competitive edge in the charter market. 

In addition to the EEXI, to trade in European ports, ships will have to pay ETS (Emission Trade Scheme) taxes on their C02 emissions based on voyages that depart or arrive in European ports. Applying technology to your ship will measurably decrease your ETS tax.