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Energy efficiency and emissions control: The response of the second-hand containerships sector

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  • Kokosalakis, George
  • Merika, Anna
  • Triantafyllou, Anna

Abstract

We explore factors that impact on price determination of second-hand containerships. Employing data-driven selection techniques to secure a sound model specification, we make use of a population of 5431 containerships and 1680 transactions registered in Clarksons database during 2005Q1-2020Q4. We find that energy efficiency, ship-specific characteristics, and attributes associated with buyers' and shipbuilders' nationality are significant determinants of ship price. The impact of environmental regulations as a driver of second-hand containership prices is also revealed. Compliance with emission controls impacts second-hand containership prices strongly and positively. Energy efficiency considerations are found to be increasingly important determinants of containership prices in the S&P market in the backwash of the 2008 crisis.

Suggested Citation

  • Kokosalakis, George & Merika, Anna & Triantafyllou, Anna, 2021. "Energy efficiency and emissions control: The response of the second-hand containerships sector," Energy Economics, Elsevier, vol. 100(C).
    • Handle: RePEc:eee:eneeco:v:100:y:2021:i:c:s0140988321002814
    DOI: 10.1016/j.eneco.2021.105378
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