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A Literature Survey on Market-Based Measures for the Decarbonization of Shipping

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  • Sotiria Lagouvardou

    (Department of Technology, Management, and Economics, Technical University of Denmark, 2800 Kgs. Lyngby, Denmark)

  • Harilaos N. Psaraftis

    (Department of Technology, Management, and Economics, Technical University of Denmark, 2800 Kgs. Lyngby, Denmark)

  • Thalis Zis

    (Department of Technology, Management, and Economics, Technical University of Denmark, 2800 Kgs. Lyngby, Denmark)

Abstract

This paper aims to conduct an updated literature survey on the Market-Based Measures (MBMs) currently being proposed by various member states and organizations at the International Maritime Organization (IMO) or by the scientific and grey literature as a cost-effective solution to reduce greenhouse gas (GHG) emissions from ships. Τhe paper collects, summarizes, and categorizes the different proposals to provide a clear understanding of the existing discussions on the field and also identifies the areas of prior investigation in order to prevent duplication and to avoid the future discussion at the IMO to start from scratch. Relevant European Union (EU) action on MBMs is also described. Furthermore, the study identifies inconsistencies, gaps in research, conflicting studies, or unanswered questions that form challenges for the implementation of any environmental policy at a global level for shipping. Finally, by providing foundational knowledge on the topic of MBMs for shipping and by exploring inadequately investigated areas, the study addresses concrete research questions that can be investigated and resolved by the scientific and shipping community.

Suggested Citation

  • Sotiria Lagouvardou & Harilaos N. Psaraftis & Thalis Zis, 2020. "A Literature Survey on Market-Based Measures for the Decarbonization of Shipping," Sustainability, MDPI, vol. 12(10), pages 1-23, May.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:10:p:3953-:d:356952
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    References listed on IDEAS

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    Cited by:

    1. Harilaos N. Psaraftis & Christos A. Kontovas, 2020. "Decarbonization of Maritime Transport: Is There Light at the End of the Tunnel?," Sustainability, MDPI, vol. 13(1), pages 1-16, December.
    2. Matthew P. Johnson & Theresa S. Rötzel & Brigitte Frank, 2023. "Beyond conventional corporate responses to climate change towards deep decarbonization: a systematic literature review," Management Review Quarterly, Springer, vol. 73(2), pages 921-954, June.
    3. Nestor Goicoechea & Luis María Abadie, 2021. "Optimal Slow Steaming Speed for Container Ships under the EU Emission Trading System," Energies, MDPI, vol. 14(22), pages 1-25, November.
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    5. Tobia Piccoli & Matteo Fermeglia & Daniele Bosich & Paolo Bevilacqua & Giorgio Sulligoi, 2021. "Environmental Assessment and Regulatory Aspects of Cold Ironing Planning for a Maritime Route in the Adriatic Sea," Energies, MDPI, vol. 14(18), pages 1-31, September.
    6. George Mallouppas & Elias Ar. Yfantis & Constantina Ioannou & Andreas Paradeisiotis & Angelos Ktoris, 2023. "Application of Biogas and Biomethane as Maritime Fuels: A Review of Research, Technology Development, Innovation Proposals, and Market Potentials," Energies, MDPI, vol. 16(4), pages 1-25, February.
    7. Jason Monios & Gordon Wilmsmeier, 2022. "Maritime governance after COVID-19: how responses to market developments and environmental challenges lead towards degrowth," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(4), pages 699-722, December.
    8. Paula Pereda & Andrea Lucchesi & Thais Diniz & Rayan Wolf, 2023. "Carbon Tax in the Shipping Sector: Assessing Economic and Environmental Impacts," Working Papers, Department of Economics 2023_04, University of São Paulo (FEA-USP).
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    10. Theodoros Syriopoulos & Efthymios Roumpis & Michael Tsatsaronis, 2023. "Hedging Strategies in Carbon Emission Price Dynamics: Implications for Shipping Markets," Energies, MDPI, vol. 16(17), pages 1-27, September.
    11. Orestis Schinas & Niklas Bergmann, 2021. "The Short-Term Cost of Greening the Global Fleet," Sustainability, MDPI, vol. 13(16), pages 1-32, August.
    12. Gianandrea Mannarini & Mario Leonardo Salinas & Lorenzo Carelli & Alessandro Fassò, 2022. "How COVID-19 Affected GHG Emissions of Ferries in Europe," Sustainability, MDPI, vol. 14(9), pages 1-19, April.
    13. Bilgili, Levent, 2023. "A systematic review on the acceptance of alternative marine fuels," Renewable and Sustainable Energy Reviews, Elsevier, vol. 182(C).
    14. Dongping Song, 2021. "A Literature Review, Container Shipping Supply Chain: Planning Problems and Research Opportunities," Logistics, MDPI, vol. 5(2), pages 1-26, June.
    15. Zheng, Wei & Li, Bo & Song, Dongping, 2022. "The optimal green strategies for competitive ocean carriers under potential regulation," European Journal of Operational Research, Elsevier, vol. 303(2), pages 840-856.
    16. Ana Luiza Carvalho Ferrer & Antonio Márcio Tavares Thomé, 2023. "Carbon Emissions in Transportation: A Synthesis Framework," Sustainability, MDPI, vol. 15(11), pages 1-28, May.
    17. Monica Grosso & Fabio Luis Marques dos Santos & Konstantinos Gkoumas & Marcin Stępniak & Ferenc Pekár, 2021. "The Role of Research and Innovation in Europe for the Decarbonisation of Waterborne Transport," Sustainability, MDPI, vol. 13(18), pages 1-21, September.
    18. Harilaos N. Psaraftis & Thalis Zis, 2021. "Impact assessment of a mandatory operational goal-based short-term measure to reduce GHG emissions from ships: the LDC/SIDS case study," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 21(3), pages 445-467, September.
    19. Anastasia Christodoulou & Dimitrios Dalaklis & Aykut I. Ölçer & Peyman Ghaforian Masodzadeh, 2021. "Inclusion of Shipping in the EU-ETS: Assessing the Direct Costs for the Maritime Sector Using the MRV Data," Energies, MDPI, vol. 14(13), pages 1-20, June.
    20. Olympia Nisiforou & Louisa Marie Shakou & Afroditi Magou & Alexandros G. Charalambides, 2022. "A Roadmap towards the Decarbonization of Shipping: A Participatory Approach in Cyprus," Sustainability, MDPI, vol. 14(4), pages 1-27, February.
    21. Jason Monios, 2023. "The Moral Limits of Market-Based Mechanisms: An Application to the International Maritime Sector," Journal of Business Ethics, Springer, vol. 187(2), pages 283-299, October.
    22. Ángeles Longarela-Ares & Anxo Calvo-Silvosa & José-Benito Pérez-López, 2020. "The Influence of Economic Barriers and Drivers on Energy Efficiency Investments in Maritime Shipping, from the Perspective of the Principal-Agent Problem," Sustainability, MDPI, vol. 12(19), pages 1-42, September.

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