Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/28581
Title: Impacts of a bunker levy on decarbonizing shipping: A tanker case study
Authors: Lagouvardou, Sotiria 
Psaraftis, Harilaos N. 
Zis, Thalis 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Keywords: GHG emissions;Freight rates;Market-based measures;Shipping decarbonization;IMOBunker levy
Issue Date: 1-May-2022
Source: Transportation Research Part D: Transport and Environment, 2022, vol. 106
Volume: 106
Journal: Transportation Research Part D: Transport and Environment 
Abstract: The pressure on shipping to reduce its carbon footprint is increasing. Various measures are being proposed at the International Maritime Organization (IMO), including Market-Based Measures (MBMs). This paper investigates the potential of a bunker levy in achieving short-term CO2 emissions reductions. The analysis focuses on the tanker market and uses data from the latest IMO GHG studies and a variety of other sources. The connection between fuel prices and freight rates on the one hand and vessel speeds on the other is investigated for the period 2010–2018. A model to find a tanker's optimal laden and ballast speeds is also developed and applied to a variety of scenarios. Results show that a bunker levy, depending on the scenario, can lead to short-term CO2 emissions reductions of up to 43%. Policy implications are also discussed, particularly vis-à-vis recent IMO and European Union (EU) action on MBMs.
URI: https://hdl.handle.net/20.500.14279/28581
ISSN: 13619209
DOI: 10.1016/j.trd.2022.103257
Rights: Attribution 4.0 International (CC BY 4.0)
Type: Article
Affiliation : Technical University of Denmark 
Cyprus University of Technology 
Publication Type: Peer Reviewed
Appears in Collections:Άρθρα/Articles

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