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Capped steam ahead: A case study among ship operators on a maritime ETS

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  • Koesler, Simon
  • Achtnicht, Martin
  • Köhler, Jonathan

Abstract

International shipping is an important emitter of greenhouse gases. The International Maritime Organization (IMO) is discussing different approaches to reduce maritime CO2 emissions, in particular market-based mechanisms. In this paper, we assess potential implications of a maritime emission trading scheme (ETS) on the organisation and operations of shipping companies, primarily on the basis of a case study involving ship operators. Our results suggest that there is no knock-out criterion why a cap-andtrade approach should not work in the shipping sector in practice. A maritime ETS has the potential to engage this sector into cost-efficient emission reduction if designed to account for the special characteristics of the international shipping industry.

Suggested Citation

  • Koesler, Simon & Achtnicht, Martin & Köhler, Jonathan, 2012. "Capped steam ahead: A case study among ship operators on a maritime ETS," ZEW Discussion Papers 12-044, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:12044
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    References listed on IDEAS

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    2. Cason, Timothy N & Gangadharan, Lata, 2003. "Transactions Costs in Tradable Permit Markets: An Experimental Study of Pollution Market Designs," Journal of Regulatory Economics, Springer, vol. 23(2), pages 145-165, March.
    3. Ellerman,A. Denny & Joskow,Paul L. & Schmalensee,Richard & Montero,Juan-Pablo & Bailey,Elizabeth M., 2005. "Markets for Clean Air," Cambridge Books, Cambridge University Press, number 9780521023894.
      • Ellerman,A. Denny & Joskow,Paul L. & Schmalensee,Richard & Montero,Juan-Pablo & Bailey,Elizabeth M., 2000. "Markets for Clean Air," Cambridge Books, Cambridge University Press, number 9780521660839, April.
    4. Brett, Craig & Keen, Michael, 2000. "Political uncertainty and the earmarking of environmental taxes," Journal of Public Economics, Elsevier, vol. 75(3), pages 315-340, March.
    5. Alexeeva-Talebi, Victoria, 2011. "Cost pass-through of the EU emissions allowances: Examining the European petroleum markets," Energy Economics, Elsevier, vol. 33(S1), pages 75-83.
    6. Heindl, Peter, 2012. "Transaction costs and tradable permits: Empirical evidence from the EU emissions trading scheme," ZEW Discussion Papers 12-021, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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    Cited by:

    1. Hermeling, Claudia & Klement, Jan Henrik & Koesler, Simon & Köhler, Jonathan & Klement, Dorothee, 2015. "Sailing into a dilemma," Transportation Research Part A: Policy and Practice, Elsevier, vol. 78(C), pages 34-53.
    2. Hermeling, Claudia & Klement, Jan Henrik & Koesler, Simon & Köhler, Jonathan & Klement, Dorothee, 2014. "Sailing into a dilemma: An economic and legal analysis of an EU trading scheme for maritime emissions," ZEW Discussion Papers 14-021, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

    More about this item

    Keywords

    emission trading; international shipping; maritime emissions;

    JEL classification:

    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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