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

Cristofer H. Marques (), Paula Carvalho Pereda (), Ramiro F. Ramos (), Olav Fiksdahl (), Luiz F. Assis (), Newton N. Pereira (), Andrea Lucchesi () and Jean-David Caprace ()

No 2024_15, Working Papers, Department of Economics from University of São Paulo (FEA-USP)

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.

Keywords: shipping; GHG emissions; environmental effect (search for similar items in EconPapers)
JEL-codes: L91 L92 (search for similar items in EconPapers)
Date: 2024-04-17
New Economics Papers: this item is included in nep-ene, nep-env and nep-tre
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