Knowledge

The pressure on shipping to reduce its carbon footprint is increasing. Various measures are being proposed at the International Maritime Organization (IMO), including MarketBased Measures (MBMs). This paper investigates the potential of a bunker levy in achieving short-term CO2 emissions reductions. The analysis focuses on the tanker market and uses data from the latest IMO GHG studies and a variety of other sources. The connection between fuel prices and freight rates on the one hand and vessel speeds on the other is investigated for the period 2010-2018. A model to find a tanker’s optimal laden and ballast speeds is also developed and applied to a variety of scenarios. Results show that a bunker levy, depending on the scenario, can lead to short-term CO2 emissions reductions of up to 43%. Policy implications are also discussed, particularly vis-à-vis recent IMO and European Union (EU) action on MBMs.

The purpose of this paper is to describe the impact assessment of a mandatory operational goal-based short-term measure to reduce green house gas (GHG) emissions from ships. The specific measure has been proposed by Denmark and other co-sponsors in the context of the relevant discussion at the International Maritime Organization (IMO) and in particular the so-called Initial IMO Strategy. The IMO is a specialized United Nations agency that regulates shipping. The Initial IMO Strategy, adopted in 2018, has been the most recent major international environmental agreement on how to reduce GHG emissions from ships at a global level. The central research question in this paper is to ascertain the potential impacts of the aforementioned measure to least developed countries (LDCs) and small island developing states (SIDS). There are concerns that such states may be negatively impacted, or even disproportionately negatively impacted, by whatever measure is decided by the IMO. After gaps in the literature and data are identified, our methodology develops a list of potential negative impacts, and looks at a set of factors that may influence these impacts. Then, we discuss how the goal-based measure may impact LDCs/SIDs as regards each of the identified negative impacts. The analysis argues that for LDCs and SIDS a risk for negative and disproportionately negative impacts exists. The only negative impact of which both the probability and the consequence are considered high is the difficulty to finance retrofitting of old ships or investment in new ships. As such, this is likely a disproportionally negative impact. At the same time, the degree of share (or responsibility) of the goal-based measure with respect to such potential negative impacts, vis-à-vis the share of other factors contributing to these impacts, cannot be precisely ascertained, even though we conjecture this share to be low.

The purpose of this paper is to provide an overview and discussion of potential Market Based Measures (MBMs) under the Initial IMO Strategy for the reduction of greenhouse gas (GHG) emissions from ships. In this context, some related developments are also seen as directly relevant, mainly in the context of the possible inclusion of shipping into the EU Emissions Trading System (ETS). A comparative evaluation of maritime MBMs is made using the following criteria: GHG reduction effectiveness, compatibility with existing legal framework, potential implementation timeline, potential impacts on States, administrative burden, practical feasibility, avoidance of split incentives between ship-owner and charterer, and commercial impacts. The paper breaks down potential MBMs into the following classes: Bunker levy/carbon levy MBMs, ETS (global and/or EU ETS) MBMs and other MBM proposals.

In this video, Professor Harilaos Psaraftis (DTU Technical University of Denmark) will outline the main decarbonization challenges.

The International Maritime Organization (IMO) adopted the so-called Initial IMO Strategy in 2018, stipulating that greenhouse gas (GHG) emissions from international shipping need to be reduced by at least 50% by 2050, and CO2 emissions per transport work are to be reduced by at least 40% by the year 2030, both compared to the 2008 levels.

At the same time, there is an elephant in the room: It is the intent of the European Commission and the European Parliament to include shipping into the EU ETS. How the elephant will be handled is not clear. In this talk we will outline the main decarbonization challenges through a focus on a RoPax case study.
The session was developed in collaboration with MARLOG.

The purpose of this short paper is to provide a brief and non‐encyclopedic commentary on the decisions made at IMO MEPC 76 (June 2021) and assess the prospects for the future of shipping decarbonization in the aftermath of that meeting. The recent action of the European Commission to include shipping into the EU Emissions Trading System (ETS) is also discussed.

The purpose of this paper is to assess the status and prospects of the decarbonization of maritime transport. Already more than two years have passed since the landmark decision of the International Maritime Organization (IMO) in April 2018, which entailed ambitious targets to reduce greenhouse gas (GHG) emissions from ships. The paper attempts to address the following three questions: (a) where do we stand with respect to GHG emissions from ships, (b) how is the Initial IMO Strategy progressing, and (c) what should be done to move ahead? To that effect, our methodology includes commenting on some of the key issues addressed by the recently released 4th IMO GHG study, assessing progress at the IMO since 2018, and finally identifying other issues that we consider relevant and important as regards maritime GHG emissions, such as for instance the role of the European Green Deal and how this may interact with the IMO process. Even though the approach of the paper is to a significant extent qualitative, some key quantitative and modelling aspects are considered as well. On the basis of our analysis, our main conjecture is that there is not yet light at the end of the tunnel with respect to decarbonizing maritime transport.

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

The purpose of this paper is to assess the status and prospects of the decarbonization of maritime transport. Already more than two years have passed since the landmark decision of the International Maritime Organization (IMO) in April 2018, which entailed ambitious targets to reduce greenhouse gas (GHG) emissions from ships. The paper attempts to address the following three questions: (a) where do we stand with respect to GHG emissions from ships, (b) how is the Initial IMO Strategy progressing, and (c) what should be done to move ahead? To that effect, our methodology includes commenting on some of the key issues addressed by the recently released 4th IMO GHG study, assessing progress at the IMO since 2018, and finally identifying other issues that we consider relevant and important as regards maritime GHG emissions, such as for instance the role of the European Green Deal and how this may interact with the IMO process. Even though the approach of the paper is to a significant extent qualitative, some key quantitative and modelling aspects are considered as well. On the basis of our analysis, our main conjecture is that there is not yet light at the end of the tunnel with respect to decarbonizing maritime transport.

The purpose of this chapter is to present some basics as regards the energy efficiency of ships, including related regulatory activity at the International Maritime Organization (IMO) and elsewhere. To that effect, the Energy Efficiency Design Index (EEDI) is first presented, followed by a discussion of Market Based Measures (MBMs) and the recent Initial IMO Strategy to reduce greenhouse gas (GHG) emissions from ships. The discussion includes commentary on possible pitfalls in the policy approach being followed.

The purpose of this chapter is to introduce the concept of Market Based Measures (MBMs) to reduce Green House Gas (GHG) emissions from ships, and review several distinct MBM proposals that were under consideration by the International Maritime Organization (IMO). The chapter then moves on to discuss the concept of Monitoring, Reporting and Verification (MRV) of CO2 emissions and the distinct mechanisms set up the European Union (EU) and the IMO for MRV. The reason the MBM and MRV subjects are treated in the same chapter is twofold: (a) the MRV discussion essentially started when the MBM discussion was suspended in 2013, and (b) MRV is a critical step for any eventual MBM implementation in the future.