Evaluation of constraints for investment in NOx emission technologies: case study on Greek bulk carrier owners

Hristos Karahalios

Maritime Business Review, 2024, vol. 9, issue 2, 160-176

Abstract: Purpose - The maritime industry is the transport mode that contributes most to air pollution. The International Maritime Organization (IMO) identified the reduction of air pollution by ships as a crucial issue. Since 1 January 2020, ships have had to adopt strategies and new technologies to eliminate air pollution. However, ship compliance with nitrate oxide (NOx) emission restrictions is more challenging. This paper aims to identify shipowners' challenges in investing in new technologies. Design/methodology/approach - This paper applied a hybrid methodology combining a survey, a balanced scorecard and fuzzy analytic hierarchy process (F-AHP) to identify and evaluate constraints and weights in investment decision-making for NOx technologies. A survey was carried out to validate constraints. Findings - A survey was carried out, representing 5.1% of Greek-owned ships by deadweight capacity. The findings provide a weighted list of seven crucial technical and economic constraints faced by ship operators. The constraints vary from ship retrofit expenditure to crew training and waste management. Additionally, NOx emission technologies were compared. It was found that liquefied natural gas is the preferred investment option for the survey participants compared with selective catalytic reduction, exhaust gas recirculation and batteries. Originality/value - Several studies have dealt with the individual technical feasibility of NOx reduction technologies. However, apart from technical feasibility for a shipowner, the selection of a NOx technology has several managerial and safety risks. Therefore, the originality of this paper is to reveal those constraints that have a higher weight on shipowners. With this cost-benefit approach, investment challenges for ship operators are revealed. Policymakers can benefit from the results of the employed methodology.

Keywords: Ship NOx emissions; Maritime regulations; Fuzzy analytic hierarchy process; Balance scorecard; Maritime transportation (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:mabrpp:mabr-01-2024-0007

DOI: 10.1108/MABR-01-2024-0007

Access Statistics for this article

Maritime Business Review is currently edited by Chin-Shan Lu and Tsz Leung Yip

More articles in Maritime Business Review from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().