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The link between economy and environment in the post-crisis era: lessons learned from slow steaming

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  • Christos A. Kontovas
  • Harilaos N. Psaraftis

Abstract

The crisis in shipping during the last years was synonymous with low demand for transport, low freight rates and high bunker prices. Sailing at speeds lower than the design speed reduces total fuel consumption resulting in bunker cost savings. Therefore, during the crisis slow steaming has been extensively exercised and some modern vessels were operating at half of their design speed. Given that fuel costs and emissions are directly proportional to one another (both being directly proportional to fuel used), it appears that reducing both could be a straightforward way towards a 'win-win' solution. Thus, this paper discusses the lessons learned by slow steaming providing the link between economy and the environment which is fundamental towards sustainability in shipping.

Suggested Citation

  • Christos A. Kontovas & Harilaos N. Psaraftis, 2011. "The link between economy and environment in the post-crisis era: lessons learned from slow steaming," International Journal of Decision Sciences, Risk and Management, Inderscience Enterprises Ltd, vol. 3(3/4), pages 311-326.
    • Handle: RePEc:ids:ijdsrm:v:3:y:2011:i:3/4:p:311-326
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    Citations

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    Cited by:

    1. Lijun Tang & Victor Gekara, 2020. "The Importance of Customer Expectations: An Analysis of CSR in Container Shipping," Journal of Business Ethics, Springer, vol. 165(3), pages 383-393, September.
    2. Kinnon, Michael Mac & Razeghi, Ghazal & Samuelsen, Scott, 2021. "The role of fuel cells in port microgrids to support sustainable goods movement," Renewable and Sustainable Energy Reviews, Elsevier, vol. 147(C).
    3. Magirou, Evangelos F. & Psaraftis, Harilaos N. & Bouritas, Theodore, 2015. "The economic speed of an oceangoing vessel in a dynamic setting," Transportation Research Part B: Methodological, Elsevier, vol. 76(C), pages 48-67.
    4. Zheng, Wei & Li, Bo & Song, Dongping, 2022. "The optimal green strategies for competitive ocean carriers under potential regulation," European Journal of Operational Research, Elsevier, vol. 303(2), pages 840-856.
    5. Heikkilä, Mikko & Grönholm, Tiia & Majamäki, Elisa & Jalkanen, Jukka-Pekka, 2024. "Effect of ice class to vessel fuel consumption based on real-life MRV data," Transport Policy, Elsevier, vol. 148(C), pages 168-180.
    6. Dan Zhuge & Shuaian Wang & Lu Zhen & Gilbert Laporte, 2020. "Schedule design for liner services under vessel speed reduction incentive programs," Naval Research Logistics (NRL), John Wiley & Sons, vol. 67(1), pages 45-62, February.
    7. Finnsgård, Christian & Kalantari, Joakim & Roso, Violeta & Woxenius, Johan, 2020. "The Shipper's perspective on slow steaming - Study of Six Swedish companies," Transport Policy, Elsevier, vol. 86(C), pages 44-49.
    8. Manuel Herrera & Per J. Agrell & Casiano Manrique-de-Lara-Peñate & Lourdes Trujillo, 2017. "Vessel capacity restrictions in the fleet deployment problem: an application to the Panama Canal," Annals of Operations Research, Springer, vol. 253(2), pages 845-869, June.

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