Sustainable Maritime Transportation Operations with Emission Trading
Haoqing Wang, Yuan Liu, Fei Li, Shuaian Wang- Ocean Engineering
- Water Science and Technology
- Civil and Structural Engineering
The European Union (EU) has recently approved the inclusion of shipping in its Emissions Trading System, aiming to foster sustainable development within the shipping industry. While this new policy represents a significant step towards reducing carbon emissions, it also poses challenges for shipping companies, particularly in terms of operation costs. To assist shipping companies in devising optimal strategies under the new policy, this study proposes new techniques to determine the optimal solutions for sailing speed and the number of ships on the route, covering both EU and non-EU areas. Additionally, we demonstrate how to adjust these optimal decisions in response to changes in charged fees, fuel prices, and weekly operational costs of ships. This research offers innovative insights into the optimal decision-making process for shipping companies under the new EU policy and serves as a valuable decision-making tool to minimize total costs.