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Regulatory compliance and operational efficiency in maritime transport: Strategies and insights

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  • Park, Seongbeom
  • Lee, Hyunju
  • Kim, Dowon

Abstract

In recent years, with increasing maritime trade, the shipping industry has faced the challenge of mitigating escalating greenhouse gas emissions. This study investigates the cost mitigation strategies of shipping companies in response to three key regulations: the Carbon Intensity Indicator, the EU Emissions Trading System, and the FuelEU Maritime regulation. By proposing optimal speeds for container ships on the Asia–Europe route and examining the potential for carbon leakage, the study aims to predict strategies of shipping companies and derive insights for achieving sustainable regulatory compliance. The results provide a comprehensive analysis of the regulations' impact on operational costs and emissions, with the robustness of the findings confirmed through extensive sensitivity analyses. The discussion highlights the unintended consequences of current regulations that may deviate from the ultimate objectives of reducing GHG emissions and achieving sustainable maritime transport. Ultimately, the study seeks to support the development of effective maritime regulations that align with the operational strategies of shipping companies, emphasizing the need for a holistic approach to achieve the intended outcomes of environmental policies.

Suggested Citation

  • Park, Seongbeom & Lee, Hyunju & Kim, Dowon, 2024. "Regulatory compliance and operational efficiency in maritime transport: Strategies and insights," Transport Policy, Elsevier, vol. 155(C), pages 161-177.
    • Handle: RePEc:eee:trapol:v:155:y:2024:i:c:p:161-177
    DOI: 10.1016/j.tranpol.2024.06.024
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    References listed on IDEAS

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