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The Cost of SOx Limits to Marine Operators; Results from Exploring Marine Fuel Prices

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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Marine operators are confronted with the new air emissions regulations that determine the limits of sulfur content in marine fuels. The low‐sulfur (LS) marine fuels have a higher price, and their fluctuation is almost similar to the fluctuation of high‐sulfur (HS) fuels. The price difference between HS and LS might also determine the decision of operators for alternative technical means, such as scrubbers, in order to comply with the new limits. This paper aims to provide a thorough statistical analysis of the currently available LS and HS marine fuels time series, as well as to present the analysis of the differential of the HS and LS fuel prices. The paper concludes with suggestions for further research.
Twórcy
autor
  • Hamburg School of Business Administration, Hamburg, Germany
  • Technological and Educational Institute of Athens, Athens, Greece
Bibliografia
  • [1] Alizadeh, A, Kavoussanos, M.G., Menachof, D. (2004) Hedging against bunker price fluctuations using petroleum futures contracts; constant vs time varying hedge ratios, Applied Economics, Vol.36, No12, pp.1137‐1353
  • [2] Buhaug, Ø., Corbett J.J, Endresen, O., Eyring, V., Faber J., Hanayama, S., Lee, D., Lindstad, H., Mjelde, A., Palsson, C., Wanquing, W., Winebrake, J.J., Yoshida, K., (2009) Second IMO Greenhouse Gas Study. International Maritime Organization, London.
  • [3] European Commission, Proposed Directive, COM(2013) 18 /2
  • [4] European Maritime Safety Agency (2010) The 0.1% Sulphur in fuel requirement as from 1 January 2015 in SECAs; An assessment of available impact studies and alternative means of compliance.
  • [5] ESPO Concerned About Obligation to Equip Core Ports with LNG Facilities, Thursday, 24 January 2013 11:41 (www.espo.be)
  • [6] Miola, A. Ciuffo, B. Giovine, E., Marra, M. (2010) Regulating air emissions from ships, The state of the art on methodologies, technologies and policy options, Joint Research Centre, Institute for Environment and Sustainability, ISBN 978‐92‐79‐17733‐0.
  • [7] Schinas, O. Stefanakos, Ch. (2012a) Cost assessment of environmental regulation and options for marine operators, Transportation Research Part C: Emerging Technologies, Vol. 25, pp.81‐99, doi: 10.1016/j.trc.2012.05.002
  • [8] Schinas, O. Bani, J. (2012b) The Impact of a Possible Extension at EU Level of SECAs to the Entire European Coastline, Note to the European Parliament, PE 474.549
  • [9] Spanos, A. 2003. Probability Theory and Statistical Inference. Econometric Modeling with Observational Data. Cambridge: Cambridge University Press.
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-73d91d19-a002-4f46-b96e-7464ce6711c2
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