Nair, Abhishek and Michele Acciaro

Alternative Fuels for Shipping: Optimising Fleet Composition Under Environmental and Economic Constraints

International Journal of Transport Economics, 45 (3): 460-439, (2019).

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Abstract: This article reports on an analysis of the potential alternative fuel options available for the shipping industry. The authors also assess the emission reductions that could be obtained through a fuel shift in this sector. The article begins with a literature review relevant to alternative fuels for shipping. The authors then stress that urgent action is needed in terms of environmentally-friendly technologies uptake, operational measures, and new forms of propulsion based on alternative fuels. They discuss the costs associated with a transition to alternative fuels, investigating eight fuels: two fossil-based, four biomass-based, and two blended fuels. The eight fuels are ranked according to their projected profitability in four price scenarios. The authors also develop a simulation that shows that a maximum of 24% greenhouse gas emission reduction can be achieved by using alternative fuels. This reduction would be achieved at varying cost levels. The authors conclude by proposing an optimal fleet mix to be achieved by 2050, to help with policy and planning in the shipping sector.

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