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Cost and Environmental Impact Assessment of Mandatory Speed Reduction of Maritime Fleets

Author

Listed:
  • Cristofer H. Marques
  • Paula Carvalho Pereda
  • Ramiro F. Ramos
  • Olav Fiksdahl
  • Luiz F. Assis
  • Newton N. Pereira
  • Andrea Lucchesi
  • Jean-David Caprace

Abstract

To reduce greenhouse gas emissions from transport, the International Maritime Organization has been studying measures to be implemented in the short term. The present work presents an assessment of cost and environmental outcomes from the implementation of mandatory reductions of speed on the world merchant ship fleet. Considering the product usually transported by each group and the distance navigated between ports, average values of capital, operational, voyage expenditure and CO2 emissions are calculated. Results reveal that capital and operational expenditure increase with speed reduction while voyage expenditure and CO2 emission decrease. The effect is different for each region and ship type, whereby a given speed reduction is more beneficial for some than for others. Higher speed reductions were found to be environmentally beneficial but significantly increased the annual seaborne transport cost, which would likely affect ocean-going commerce.

Suggested Citation

  • Cristofer H. Marques & Paula Carvalho Pereda & Ramiro F. Ramos & Olav Fiksdahl & Luiz F. Assis & Newton N. Pereira & Andrea Lucchesi & Jean-David Caprace, 2024. "Cost and Environmental Impact Assessment of Mandatory Speed Reduction of Maritime Fleets," Working Papers, Department of Economics 2024_15, University of São Paulo (FEA-USP).
    • Handle: RePEc:spa:wpaper:2024wpecon15
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    File URL: http://www.repec.eae.fea.usp.br/documentos/Marques_Pereda_Ramos_Fiksdahl_Luchesi_Caprace_15WP.pdf
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    More about this item

    Keywords

    shipping; GHG emissions; environmental effect;
    All these keywords.

    JEL classification:

    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation

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