An on-board carbon-tracking device being trialled by Mitsubishi Corp could be installed on another five ships by mid-2023 as the industry prepares for new regulations aimed at cutting maritime emissions, according to its developers.

The project by climate tech start-up Everimpact allows owners to measure real-time CO2 data using sensors installed on the exhaust stack of ships.

Its backers say the accurate recording of emissions will be of increasing importance as shipping seeks to tackle its role in global warming.