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Monitoring the Carbon Footprint of Dry Bulk Shipping in the EU: An Early Assessment of the MRV Regulation

Author

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  • George Panagakos

    (Department of Technology, Management and Economy, Technical University of Denmark, 2800 Lyngby, Denmark)

  • Thiago de Sousa Pessôa

    (Department of Technology, Management and Economy, Technical University of Denmark, 2800 Lyngby, Denmark)

  • Nick Dessypris

    (Department of Hygiene, Epidemiology and Medical Statistics Medical School, National and Kapodistrian University of Athens, 11527 Athens, Greece)

  • Michael Bruhn Barfod

    (Department of Technology, Management and Economy, Technical University of Denmark, 2800 Lyngby, Denmark)

  • Harilaos N. Psaraftis

    (Department of Technology, Management and Economy, Technical University of Denmark, 2800 Lyngby, Denmark)

Abstract

Aiming at reducing CO 2 emissions from shipping at the EU level, a system for monitoring, reporting, and verification (MRV) of CO 2 emissions of ships was introduced in 2015 with the so-called ‘MRV Regulation’. Its stated objective was to produce accurate information on the CO 2 emissions of large ships using EU ports and to incentivize energy efficiency improvements by making this information publicly available. On 1 July 2019, the European Commission published the relevant data for 10,880 ships that called at EU ports within 2018. This milestone marked the completion of the first annual cycle of the regulation’s implementation, enabling an early assessment of its effectiveness. To investigate the value of the published data, information was collected on all voyages performed within 2018 by a fleet of 1041 dry bulk carriers operated by a leading Danish shipping company. The MRV indicators were then recalculated on a global basis. The results indicate that the geographic coverage restrictions of the MRV Regulation introduce a significant bias, thus prohibiting their intended use. Nevertheless, the MRV Regulation has played a role in prompting the IMO to adopt its Data Collection System that monitors ship carbon emissions albeit on a global basis.

Suggested Citation

  • George Panagakos & Thiago de Sousa Pessôa & Nick Dessypris & Michael Bruhn Barfod & Harilaos N. Psaraftis, 2019. "Monitoring the Carbon Footprint of Dry Bulk Shipping in the EU: An Early Assessment of the MRV Regulation," Sustainability, MDPI, vol. 11(18), pages 1-19, September.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:18:p:5133-:d:268735
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    References listed on IDEAS

    as
    1. Harilaos N. Psaraftis, 2019. "Decarbonization of maritime transport: to be or not to be?," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 21(3), pages 353-371, September.
    2. Chi, Hongtao & Pedrielli, Giulia & Ng, Szu Hui & Kister, Thomas & Bressan, Stéphane, 2018. "A framework for real-time monitoring of energy efficiency of marine vessels," Energy, Elsevier, vol. 145(C), pages 246-260.
    3. Harilaos N. Psaraftis, 2016. "Green Maritime Transportation: Market Based Measures," International Series in Operations Research & Management Science, in: Harilaos N. Psaraftis (ed.), Green Transportation Logistics, edition 127, chapter 0, pages 267-297, Springer.
    4. Elizabeth Lindstad & Henning Borgen & Gunnar S. Eskeland & Christopher Paalson & Harilaos Psaraftis & Osman Turan, 2019. "The Need to Amend IMO’s EEDI to Include a Threshold for Performance in Waves (Realistic Sea Conditions) to Achieve the Desired GHG Reductions," Sustainability, MDPI, vol. 11(13), pages 1-17, July.
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    Cited by:

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    2. Monica Grosso & Fabio Luis Marques dos Santos & Konstantinos Gkoumas & Marcin Stępniak & Ferenc Pekár, 2021. "The Role of Research and Innovation in Europe for the Decarbonisation of Waterborne Transport," Sustainability, MDPI, vol. 13(18), pages 1-21, September.
    3. Harilaos N. Psaraftis & Christos A. Kontovas, 2020. "Decarbonization of Maritime Transport: Is There Light at the End of the Tunnel?," Sustainability, MDPI, vol. 13(1), pages 1-16, December.
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