Optimal compliance choices for ocean carriers under the sulphur regulation

Dian Sheng; Jiehui Jiang; Hua WangZhijia TanYadong Wang

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Optimal compliance choices for ocean carriers under the sulphur regulation

机译：Optimal compliance choices for ocean carriers under the sulphur regulation

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This paper investigates how carriers adapt to the sulphur regulation by choosing between sulphur scrubber (SS) and fuel switching (FS). A cost minimization model is proposed to determine the optimal compliance choices, considering factors such as fuel prices, capital cost difference between SS and FS, and shipping service profile. We find that the optimal choice depends on the tradeoff between the capital cost advantage of FS and the fuel cost advantage of SS. And such a tradeoff is moderated by the vessel's annual fuel consumption. Ignoring the speed differentiation behavior of FS vessels would exaggerate the benefits of SS. But whether it can cause a wrong compliance choice depends on the extent of overestimation, which depends on the presence in emission control areas and fuel prices. When fuel price volatility is factored in, a portfolio of FS and SS might be better than simply choosing either one for all vessels.

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《Transportation research, Part D. Transport and environment》 |2023年第3期|103639.1-103639.18|共18页
作者
Dian Sheng; Jiehui Jiang; Hua WangZhijia TanYadong Wang;
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作者单位

School of Economics, Shenzhen University, Shenzhen 518060, China;

Department of Civil and Environmental Engineering, National University of Singapore, Singapore 117576, Singapore;

School of Maritime Economics and Management, Dalian Maritime University, Dalian 116026, ChinaSchool of Economics & Management, Nanjing University of Science & Technology, Nanjing 210094, ChinaSchool of Management, Huazhong University of Science and Technology, Wuhan 430074, China;

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正文语种英语
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关键词
Sulphur regulation; Sulphur scrubber; Fuel switch; Compliance portfolio;

Optimal compliance choices for ocean carriers under the sulphur regulation

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