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 |
Files in This Item:
File | Description | Size | Format | |
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TRD 2022 - Lagouvardou, Psaraftis, Zis.pdf | 2.17 MB | Adobe PDF | View/Open |
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