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Barriers to energy efficient and low carbon shipping

Rehmatulla, N; Smith, T; (2015) Barriers to energy efficient and low carbon shipping. Ocean Engineering , 111 (B) pp. 102-112. 10.1016/j.oceaneng.2015.09.030. Green open access

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Abstract

Energy costs represent around 60–70% of operating costs of a ship and with the fuel price soaring to record levels, energy efficiency has become the top priority for many shipping companies. Numerous cost-effective energy efficient options (technologies for new and existing ships and operations) have been identified for improving the energy efficiency of ships. Analysis from industry leading experts and recognised bodies has so far shown substantial unrealised abatement potential using options that often appear to be cost-negative at current fuel prices. Apart from the shortcomings of the analysis, failure to realise this potential could be attributable to various market barriers and failures. This paper discusses non-market failures and market failures in context of shipping and draws on findings of a survey of shipping companies to assess their pervasiveness. The results are compared with analysis undertaken with the global shipping system model (GloTraM). Initial results from these methods suggest the existence of some non-market failures and market failures that have also been discussed in other sectors and industries.

Type: Article
Title: Barriers to energy efficient and low carbon shipping
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.oceaneng.2015.09.030
Publisher version: http://dx.doi.org/10.1016/j.oceaneng.2015.09.030
Additional information: © 2015 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/)
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/1473473
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