Shipping policy

Delay on the approach and the carrying voyages. 1.2. Delay in the loading/discharging operations. 2. Time charterparties. 2.1. Delay on the prosecution of the voyage. 2.2. Delay and the payment of hire. 2.3. Delay and the off-hire situation. 2.4. Delay in the redelivery of the vessel. Conclusion.  "Supported by the Programme Alβan, the European Union Programme of High Level Scholarships for Latin America, scholarship no. E07M401140CO".  This article was presented for consideration of the review on april 13th and was accepted for publication by the editorial board on june 12th 2009, after being reviewed by an external academic.

The vital role of container liner shipping in international trade suggests that understanding why container liner firms go bankrupt is crucial to the sustainability of the maritime supply chain to improve resilience. Considering the insolvency of Hanjin Shipping as a case study, this paper investigates the probabilistic relationships among the bankruptcy causal factors that are disclosed qualitatively and quantitatively, exploiting a fuzzy Bayes network approach. A sensitivity analysis is conducted to increase the accuracy of the findings. Outcomes of the paper reveal that an integrated approach comprising of both endogenous and exogenous causal factors is a more powerful approach to explain the demise of Hanjin Shipping. Compared to exogenous factors, endogenous factors account more for the collapse of the firm. Furthermore, it is found that government support would have been a more influential measure to mitigate the negative effects of the demise compared to the merging and acquisition practice. Competitor liner operators, policymakers, and stakeholders in the maritime supply chain ecosystem can utilize the outcomes of this research to mitigate the bankruptcy risk and improve the maritime supply chain resilience capacity.

The aim of this article is to dispel any nomenclatural confusion related to the notion of FSRU. Sometimes FSRUs are classified as ships or vessels; sometimes as stationary units. The article will attempt to explain in which case FSRUs may be classified as ships. This article describes one of the most persistent legal problems in Polish maritime law, which is the FSRU implementation in the Baltic Sea. The application of FSRU solutions was analysed in relation to LNG maritime transport. This analysis is concerned only with a fragment of wider theoretical considerations about the placement of the definition of the ship in different national legal systems as well as the importance of translation and correct understanding of the words denoting the ship or the vessel. http://www.transnav.eu the International Journal on Marine Navigation and Safety of Sea Transportation Volume 12 Number 3

Depuis 2007 l'UE essaie de mettre en place une politique maritime intégrée qui englobe des domaines aussi variés que la pêche, la navigation et les ports, le milieu marin, la recherche marine, la production d'énergie, les chantiers navals, la sécurité et la sûreté maritime, le tourisme et l'emploi, les développements des régions côtières et les relations extérieures concernant les affaires maritimes. Le but de notre travail est de présenter, tout d'abord, les piliers juridiques de cette nouvelle politique et, ensuite, de montrer l'approche régionale fondée sur les bassins maritimes européens. MOTS CLES : Union Européenne ; Politique maritime intégrée ; Droit de la mer ; Bassins maritimes. LA POLÍTICA MARÍTIMA INTEGRADA DE LA UNIÓN EUROPEA Y LAS CUENCAS MARÍTIMAS EUROPEAS RESUMEN: Desde 2007, la UE intenta poner en práctica una política marítima integrada que englobe ámbitos tan variados como la pesca, la navegación y los puertos, el medio marino, la investigación marina, la producción energética, la industria naval, la seguridad marítima, el turismo y el empleo, el desarrollo de las regiones costeras y las relaciones exteriores sobre asuntos marítimos. El objeto de nuestro trabajo es presentar los pilares jurídicos de esta nueva política, además de mostrar la visión regional de las cuencas marítimas europeas.

Zaman carteri sozlesmesinde, teslimle birlikte donatilmis bir geminin ticari yonetimi belli bir ucret karsiliginda carterere tahsis edilmektedir. Carterer anlasilan carter suresi boyunca gemiyi carter sozlesmesinde belirtilen cografi sinirlar icerisindeki her yere gonderebilir. Bu yuzden, carter sozlesmesinde bu konuda bir sinir olmadikca, prensipte cartererin gemiyi tropikal sularda kullanmaya yonelik talimat vermesini engelleyen hicbir sey yoktur. Cartererin bu tarz bir talimati mesru bir talimat olarak kabul edilmektedir ve gemi sahibinin bu talimata uymasi gerekmektedir. Eger ki gemi sahibi cartererin bu talimatini hakli bir sebebi olmadan reddedecek olursa, kendisinin bu davranisi fesih hakki veren (repudiatory) sozlesme ihlali olusturabilecek ve boylece carterere sozlesmeyi sonlandirma hakki verebilecektir. Bu noktada problem su ki gemi tropikal sularda, uzun sure kaldigi zaman, gemi karinasinda kirlenme (hull fouling) cogunlukla gundeme gelmektedir. Bu doga olayi deniz organi...

This paper addresses the evolution of maritime transport demand in response to global climate change mitigation and adaptation efforts. The complexity of the global shipping system makes predicting volumes and patterns of long-term future international maritime trade a challenging task which is best explored by building scenarios rather than 'precise' forecasts. We present four contrasting scenarios of international maritime trade out to 2050, available in high resolution in terms of the dimensions studied (regions, countries, commodities, decades), which are consistent with high and low levels of global CO 2 mitigation and associated climate impacts. The scenarios project trade increasing to between two and four times the 2010 value by 2050. Scenarios characterised by low temperature increases and material intensity lead to the lower bound trade increase with high trade growth in bioenergy commodities. Unfettered production growth across countries, high temperature increases and material intensity lead to a quadrupling of trade across energy, containerised, dry and wet commodities. The estimated range is lower than those in existing scenarios and forecasts in which globalisation is assumed to continue apace. The scenarios which project the highest growth presupposes both limited decarbonisation (in contrast to the Paris Agreement) and continued growth in expanding markets. The scenarios therefore become a valuable policy and decision-making tool to address technological and operational change required of the shipping sector, if it is to deliver mitigation in line with the Paris Agreement.

Fossil fuel as the beacon of industrialization emits carbon dioxide more than any other source of energy. Carbon dioxide emission among other Green House Gases is the dominant gas responsible for global warming and damaging impact of climate change. Given the enormity of the impact of climate change, the United Nations General Assembly in 2015 adopted 17 Sustainable Development Goals (SDGs) of which 'goal 13ʹ was a call for climate action to mitigate the drastic effect of climate change by reducing global warming to 2°C above preindustrial levels or 1.5°C by 2030. Shipping in the maritime sector accounts for over 80% of the global trade and hugely dependent on Heavy Fuel Oil (HFO) and emits about 2.7% of the global carbon dioxide. Against this backdrop, the concern of this study is, therefore, to ascertain the level of progress in global decarbonization for sustainable development focusing on international shipping in the maritime sector. The documentary method of research was adopted for the study while Win-Win Solution served as the conceptual framework. The study analyzed the efforts to decarbonize the shipping industry and determine if the maritime sector will likely achieve green shipping target by 2030.

The COVID-19 pandemic has obliged Governments all around the world to take confinement and social 13 distancing measures. The reduction of leisure and production activities on beaches and ports have 14 disappeared direct and indirect contamination such as plastics, hydrocarbon spill, microbiological loads, 15 noise level, etc. leading to temporary improved environmental conditions, converting the beaches 16 similar to Marine Protected Areas. Some conditions are briefly analyzed through local surveys and in situ 17 observations in the popular beaches and ports of Salinas, Manta and Galápagos. 97-99 % of surveyed 18 people agreed that beaches have notoriously improved during confinement at least from visual 19 observation. On a scale from 1 (worst) to 5 (best), the beaches were rated 2.23 and 2.83 (less than 20 acceptable) before quarantine, and 4.48 and 4.33 after it for Salinas and Manta respectively. The 21 beaches have less garbage in general and plastic, even though there has bee...

Natural gas is relatively cheap, environmentally friendlyand energetically efficient fossil fuel that is gaining in attractivenessdaily as it can be used in many sectors. As not all consumerscan be reached by pipelines the technique of transp01tingnatural gas in the liquefied form has been developed at the beginningof 20th century but it was only in 1959 that the firstoverseas transport of liquefied natural gas ( LN G) occurred. Inthe fifty years of operation LNG shipping has shown immaculatesafety records. LNG tankers can be described only in superlatives;they are without any doubt the most sophisticated and·expensive ships that sail around the globe, they demand specialattention when navigating to or out of harbours and need to bemanned with the most educated and experienced crew. LNGmarket is expanding and changing; demand is surpassing theproductivity, new importing and exporting countries appear,LNG fleet is growing in capacity and number at high pace, exploitationcontracts for...

At present, throughout the world LNG investments are abounding. In particular, the US and the EU are trying to facilitate their security of natural gas supply. For this reason, LNG enables importers to extend their gas suppliers' portfolio, considering that some producing ...

The Paris Agreement has exerted tremendous pressure on the maritime industry to reduce carbon emissions. Since then, the industry has experimented with numerous technological, operational and incentive methods. Even though todate no concrete method or technology has proven to be a potent decarbonisation candidate, using LNG as a bunker fuel has shown some positive prospects in the reduction of atmospheric pollution. While the induction of LNG has been driven by a combination of environmental benefits and attractive fuel prices, especially for new construction, its actual use has received mixed acceptance. These mixed reactions have created a general sense of uncertainty about the benefits LNG can provide towards decarbonisation that has resulted in unease within the maritime shipping industry. Using desk-based qualitative research, the author analyses LNG as a possible fuel to achieve decarbonisation by the maritime shipping industry. In doing so, the evolving controversies associated with acceptance of LNG as a decarbonising fuel to meet the targets of the Paris Agreement have been analysed. Eventually, the future of LNG as an alternate fuel for the maritime shipping industry is evaluated and the role LNG can play as a future bunker fuel for decarbonisation of the maritime shipping industry is discussed.

Publisher: Elsevier NOTICE: this is the author's version of a work that was accepted for publication in Transport Policy. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Transport Policy, 82, (2019)

I certify that all the material in this dissertation that is not my own work has been identified, and that no material is included for which a degree has previously been conferred on me. The contents of this dissertation reflect my own personal views, and are not necessarily endorsed by the University.

Companies preparing their financial statements under International Financial Reporting Standards (IFRS) have to adopt the newly issued IFRS 15—Revenue from Contracts with Customers and IFRS 16—Leases. This paper examines what significant effects these new IFRS may have on the financial statements of maritime companies. The study explores the financial position and performance of a hypothetical maritime company by examining the preparation of two major financial statements, the balance sheet and the income statement, before and after the adoption of IFRS 15 and IFRS 16. These statements and the financial information that they provide are compared. According to the findings of this study, the effect of IFRS 15 is expected to be quite limited and mainly concerns the charging of some direct voyage expenses, which are considered contract costs, between accounting periods. In contrast, the effects of IFRS 16 are expected to be much more intense. The most significant impacts include a stro...

The ever-increasing tendency toward economic globalization highlights the importance of sustainable container transport networks to a country’s international trade, especially for an economy that is highly dependent on exports. This paper aims to develop a transport network connectivity index (TNCI) to measure the container transport connectivity from a multi-modal perspective. The proposed index is based on both graph theory and economics, considering transport infrastructure and capacity, cargo flow, and capacity utilization. Using the case of South Korea as an example, we apply the TNCI to assess the connectivity of the Busan, Gwangyang, and Incheon ports, representing approximately 96% of the container throughput in South Korea. The calculated TNCI not only provides insight into the assessment of sustainable port competitiveness, it also helps policymakers identify bottlenecks in multi-modal transport networks. To eliminate these bottlenecks, this paper offers some appropriate m...

This paper addresses the evolution of maritime transport demand in response to global climate change mitigation and adaptation efforts. The complexity of the global shipping system makes predicting volumes and patterns of long-term future international maritime trade a challenging task which is best explored by building scenarios rather than 'precise' forecasts. We present four contrasting scenarios of international maritime trade out to 2050, available in high resolution in terms of the dimensions studied (regions, countries, commodities, decades), which are consistent with high and low levels of global CO 2 mitigation and associated climate impacts. The scenarios project trade increasing to between two and four times the 2010 value by 2050. Scenarios characterised by low temperature increases and material intensity lead to the lower bound trade increase with high trade growth in bioenergy commodities. Unfettered production growth across countries, high temperature increases and material intensity lead to a quadrupling of trade across energy, containerised, dry and wet commodities. The estimated range is lower than those in existing scenarios and forecasts in which globalisation is assumed to continue apace. The scenarios which project the highest growth presupposes both limited decarbonisation (in contrast to the Paris Agreement) and continued growth in expanding markets. The scenarios therefore become a valuable policy and decision-making tool to address technological and operational change required of the shipping sector, if it is to deliver mitigation in line with the Paris Agreement.

Government initiatives during the COVID-19 outbreak had a significant impact on global energy consumption patterns. Many international borders were blocked, and individuals were confined to their homes, restricting mobility and changing social habits. The lockdowns introduced economic, physical, and social pastimes to a halt. However, as an advantage, the world had a good effect on air quality, the environment, and greenhouse gases (GHGs), in particular CO2 emissions. When compared to the mean 2019 levels, daily worldwide CO2 emissions had fallen by-17 % (-11 to-25 % for 1) by early April 2020, with changes in surface transportation accounting for little under half of the decline. The total global CO2 reduction from January to April 2020 was predicted to be more than 1749 Mt CO2 (a 14.3 % decline), with the transportation sector contributing the most (58%) followed by coal power generation (29%), and industry (10%). As a result, transportation was identified as the primary source of more than half of the emissions reduction during the epidemic. As of August 23, 2021, 193 countries produced 8.4 million tons of pandemic-related plastic waste, with 25.9 thousand tons dumped into the ocean, accounting for 1.5 percent of total riverine plastic discharge globally. As a result of China and India's recordbreaking confirmed cases, MMPW generation and discharge are projected to be more skewed toward Asia. The study found that hospital trash accounts for 73% of global discharge and that Asia accounts for 72% of global discharge, indicating the need for better medical waste management in emerging countries. This review highlights the brief lessening in GHG outflows and expanded request for single-use plastics, including the weight of an as of now out-of-control worldwide plastic squander emergency caused by the COVID-19 widespread. This review also will be helpful for people to understand the COVID-19 impact on climate change point of view. There is advantage and disadvantage brought by this pandemic and it's the best time to change the new normal of globalization. Global policies makers should consider the acute need to change the policies for a circular economy with the best environment sustainable, both during the pandemic and, more significantly, thereafter. The authors of the reference articles on the COVID-19 pandemic hope their findings will aid attempts to better understand the disease's relationship to climate change. If lessons from both global crises are learned, the world may be better prepared to deal with global climate change, which has local consequences.

desired transport services. The article begins with a brief discussion and definitions for the marketing of shipping companies. Then, the framework of customer orientation in shipping companies is analyzed. The paper is based on an empirical research, which concerns the buying behavior in the tramp and liner market. Consequently, the psychology and buying behavior of a shipping company's clients are examined, as well as the charterers' and shippers' transportation needs, decision processes and the factors influencing them. The paper concludes with a discussion of the findings in terms of the implications for both theory and shipping practice.

At every financial period CFOs are requested by shareholders to present the financial results not only just as formal financial statements but also as useful information in relation to their competitors or the market. Despite the best services provided, it is due to the existing trade cycles [1] of the shipping market that shipping companies have trouble delivering strong long-term growth unless their management ensures that all business aspects operate efficiently and effectively. Efficiency can either be expressed through an operating ratio or through a simple percentage of budgets versus a specific time frame. As much as effectiveness is concerned and according to up today literature, management effectiveness ratios compare the financial statements measures to evaluate management performance. What has been described is industry’s standard, however measurement of the management force to vessel’s operation should be evaluated also for industry’s most feasible Holistically Operating...

Up until the recent oil and commodity price crash in 2015, there has been exponential growth in global shipping and trade, and this increase means that prompt action is required to reduce vessel-sourced greenhouse gas (GHG) emissions. Future projections suggest that maritime CO 2 emissions will increase substantially by between 50% and 250%. However, there is currently no international instrument holding global shipping corporations accountable for their vessels' performance in emissions reduction. This article critically assesses the current accountability practices and regulations in place for these corporations. It suggests that stakeholders in this industry need to further explore the market based mechanisms (MBMs) that can encourage and even demand that these corporations systematically disclose their vessels' emissions reduction performance in an accurate and timely manner. Developing such mechanisms is vital to assist in the reduction of GHG emissions since a comprehensive international instrument is unlikely to be implemented soon.

At every financial period CFOs are requested by shareholders to present the financial results not only just as formal financial statements but also as useful information in relation to their competitors or the market. Despite the best services provided, it is due to the existing trade cycles [1] of the shipping market that shipping companies have trouble delivering strong long-term growth unless their management ensures that all business aspects operate efficiently and effectively. Efficiency can either be expressed through an operating ratio or through a simple percentage of budgets versus a specific time frame. As much as effectiveness is concerned and according to up today literature, management effectiveness ratios compare the financial statements measures to evaluate management performance. What has been described is industry’s standard, however measurement of the management force to vessel’s operation should be evaluated also for industry’s most feasible Holistically Operating...

The marine environment has deteriorated to an extent that it has begun to impact human health and the planet itself.  The primary cause of this deterioration as identified are, an increasing population, the industrial revolution and the increased use of fossil fuels.  While the damage done to the environment cannot be undone, the impact can be lessened by better understanding the ocean and monitoring future pollution using technology.  Such an effort will help achieve sustainability as laid out by the Sustainable Development Goals 2030 of the United Nations.  The article aims to provide an insight into one such technology, namely ‘Artificial Intelligence (AI)’, being developed to understand and monitor the marine pollution.  In doing so the article will discuss the emerging opportunities and risks associated with the use of AI in managing marine environmental pollution through sustainability.  To strengthen the argument, use-cases of AI in the marine environment and their scalabilit...

At every financial period CFOs are requested by shareholders to present the financial results not only just as formal financial statements but also as useful information in relation to their competitors or the market. Despite the best services provided, it is due to the existing trade cycles [1] of the shipping market that shipping companies have trouble delivering strong long-term growth unless their management ensures that all business aspects operate efficiently and effectively. Efficiency can either be expressed through an operating ratio or through a simple percentage of budgets versus a specific time frame. As much as effectiveness is concerned and according to up today literature, management effectiveness ratios compare the financial statements measures to evaluate management performance. What has been described is industry’s standard, however measurement of the management force to vessel’s operation should be evaluated also for industry’s most feasible Holistically Operating...

This research evaluated the demurrage policies and charges of selected shipping companies and terminal operators in the Lagos ports and the implications in the economy and shipping industry in Nigeria. It adopted the survey approach to gather data from the dominant container operators (carriers) and the terminal operators. Demurrage duration and categorization of the demurrage periods and charges for each period by the selected operators were collected and compared using the statistical tool of analysis of variance to determine if there are differences among the charges and charging systems. It was found that, significant differences do not exist in the average rate of demurrage charges per container per day among the shipping companies and terminal operators in Lagos seaports. The study also found that there is no significant difference in the average amount charged as demurrage among the shipping companies and terminal operators in the three differing periods of demurrage duration...

This paper presents a logistic simulation study in order to evaluate technical feasibility and operative costs (demurrage hours) associated to several operating strategies of transshipments in remote sites in order to assure a certain regasification rate of LNG to the network. In particular two scenarios were evaluated (A and B) within which searching for best operating strategies and evaluation of associated costs. The suggested approach uses a hybrid system dynamics simulation that combines typical elements of Discrete-Event Simulation with the characteristics of a dynamic model.

Yubing Shi, my sincere gratitude. The dinner table sessions at ANCORS were most enlightening. I also extend my appreciation to all members of the ANCORS academic and support staff. Without the unwavering support, many of us would have found ourselves in extremely difficult situations, in the progress of our studies. I am indebted to all of you for the support. I make a special mention of Ms Myree Mitchell, who in addition to her work, often goes out of her way to ensure that we, the students were properly accommodated at ANCORS. To my principal supervisor Professor Martin Tsamenyi, I extend my deepest gratitude. Without your excellent guidance, my research would not have progressed this far. I can now leave ANCORS with a true sense of achievement. Thank you. Finally, I take this opportunity to pay tribute to my wonderful kids, Bianca, Zachary, Dylan and Nehemiah, for having endured the sacrifice. It is my hope that in your future endeavours, that you too, will strive to do your best. v TABLE OF CONTENTS Abstract …………………………………………………………………………….i Table of Contents…………………………………………………………………..iii List of Tables and Figures…………………………………………………………x List of Annexes …………………………………………………………………… xi List of Acronyms and Abbreviations …………………………………………… xi CHAPTER 1 INTRODUCTION AND BACKGROUND 1.1 INTRODUCTION……………………………………………………….

Freight is the term generally used for the remuneration payable to a carrier/ shipowner, 1 whether payable by the shipper, consignee, sender or charterer. 2 In time charter or bareboat charter the remuneration is normally referred to as charter hire. Thus legal problems related to freight is part of the interrelation between sale's law and the law of carriage, a field to which Jan Ramberg has devoted much of his interest and knowledge. 3 Freight issues have been treated in 1 See i.a. Cook, Young, Taylor, Kimball, Martowski & Lambert, Voyage charters, London l993 p. 215 (cit. Voyage charter), Gram, Fraktaftaler og deres tolkning, 4th ed. Oslo l977 i.a. p. 75, Bull & Falkanger, Innføring i Sjøret, 5. ed. Oslo l999, p. 3 ff. and Grönfors, Sjölagens bestämmelser om godsbefordran, Stockholm l982 p. 190 f. 2 In the new Swedish Maritime Code (l994:1009)-below referred to as SMC-art. 13:1 makes a distinction between sender and shipper, where the sender enters into a contract for carriage of general cargo, whereas the shipper actually delivers the goods for carriage. They are the counterparts of the carrier. 14:1 states i.a. that the "carrier" charters a vessel through a contract for the carriage of goods to another party, the charterer. (The terminology has been taken from a translation of the SMC l994 made in 1995 and published by the Maritime Law Institute at the Stockholm University. It is not an official translation, but I have relied on it for convenience, although it contains certain peculiarities which could be questioned.) I tend to believe that the better concept in chartering is "owner" rather than "carrier", and below I use this term. The Scandinavian terminology does not quite correspond to the terminology used in English law where the basic terms used in this perspective are "shipper" and "carrier" and "charterer" and "owner" respectively. In bills of lading the term "merchant" is frequently applied to signify "shipper", "sender" or "consignee" as the case may be. The Nordic maritime codes date back to the late 19th century and were more or less drafted as common Nordic legislation. Also the new codes mirror common Nordic legislation efforts. The new SMC replaces the previous one from 1891, which has, however, been amended on a number of occasions during the 100 year period passed.

At  every  financial  period  CFOs  are  requested  by  shareholdersto  present  the financial  results not only just as formal financial statements but also as useful information in relation to their competi-tors  or  the  market.  Despite  the  best  services  provided,  it  is  due  to  the  existing  trade  cycles  [1]  of  the shipping  market  that  shipping  companies  have  trouble  delivering  strong  long-term  growth  unless their management ensures that all business aspects operate efficiently and effectively. Efficiencycan either  be  expressed  through  an  operating  ratio  or  through  a  simple  percentage  of  budgets  versus  a specific time frame. As much as effectiveness is concerned and according to up today literature, man-agement effectiveness ratios compare the financial statements measures to evaluate management per-formance. What has beendescribed is industry’sstandard, however measurement of the management force to vessel’s operation should be evaluated also for industry’s most feasible Holistically Operat-ing Cost “HOC”equivalent to Overall Operational Effectiveness. It’s a force which can measure how a firm can use the total of its existing capabilities and competencies for the best vessel’s operation. In shipping economy itrefers to combined actions of both "Shipscraft”and vessel's operation

We show how the evolution of crude oil tanker freight rates depends on the employment status and geographical position of the fleet of very large crude oil carriers (VLCCs). We provide a novel measure of short-term capacity in the voyage charter market which is a proxy for the percentage of vessels available for orders. We find that our capacity measure explains parts of the freight rate evolution at weekly horizons, where traditional supply measures are uninformative. The fact that freight rates directly influence shipowners’ profitability and charterers’ expenditures makes our measure particularly relevant for these groups of market participants. Keywords— AIS, Crude Oil, Forward Freight Agreements, Freight Rates, Tanker Markets, VLCC.

The shipping industry has gone through some extraordinary negative changes during the last 10 years. A drastic decline in freight and time charter rates have become apparent after the global financial crisis (GFC). A serious fall in fuel prices in 2014 thana significant price rise in 2017 has played havoc with many shipping companies as they presently struggle to cover their costs. The market, unfortunately, didn‘t respondto the increase in fuel prices as anticipated and has not matched the increasesproportionallywith demand forfreight. The author analysed the effect of the GFC on the chemical tanker industry and its players. The results demonstrate that in time of such crises, chartering demand decreases considerably and the players often decide to restructure and frequently downsize, resulting in only the very competitive corporate players remaining in the chemical tanker marketplace andto mitigate debtspeculators generallysell their shares in these companies. However, resilient i...

The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation , a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity. www.irena.org

The objective of this paper was to propose a functional simulation model for the operation of floating storage and regasification units (FSRUs) used for the import of liquefied natural gas (LNG). The physical operation of an FSRU is decomposed for each critical component of the LNG carrier (LNGC) and the FSRU, in order to construct a realistic model in Simulink. LNG mass balance equations are used to perform flow calculations from the tanks of an LNG carrier to the tanks of the FSRU and from there to shore. The simulation model produces results for cases, when multiple LNG carriers discharge cargoes during a monthly time horizon. This produces an accurate operational profile for the FSRU with information about the volume of LNG inside each of the cargo tanks of the FSRU, LNG cargo discharging and gas send-out rate. Potential practitioners may exploit the proposed planning tool to explore the feasibility of alternative operation scenarios for an FSRU terminal. The simulations can che...

Handling vessels within the agreed time limits at a port with an optimal exploitation of its quays plays an important role in the improvement of port effectiveness as it reduces the stay time of vessels and avoids the payment of contractual penalties to shipowners due to the overrun of laytimes. In this paper, we propose a mixed zero-one linear model for a new problem called the integrated Laycan and Berth Allocation Problem with dynamic vessel arrivals in a port with multiple continuous quays. The model aims, first, to achieve an optimal berth plan that reduces the late departures of chartered vessels by maximizing the difference between their despatch money and demurrage charges, considering water depth and maximum waiting time constraints and the productivity that depends on berth positions and, second, to propose laycans for new vessels to charter. Only one binary variable is used to determine the spatiotemporal allocations of vessels and the spatiotemporal constraints of the pr...

This paper examines the problem of evaporation of Liquefied Natural Gas (LNG) occurring at different places in the LNG supply chain. Evaporation losses in the LNG supply chain are one of the key factors for LNG safety, technical and economic assessment. LNG is stored and transported in tanks as a cryogenic liquid, i.e. as a liquid at a temperature below its boiling point at near atmospheric pressure. Due to heat entering the cryogenic tank during storage and transportation, a part of the LNG in the tank continuously evaporates creating a gas called Boil-Off Gas (BOG), which changes the quality of LNG over time. The general methods of handling and utilization of the Boil-Off Gas at different points in the LNG supply chain are presented. Attention is given to the issue of LNG energy content transferred during loading and unloading of LNG tankers, as well as to the Boil-Off Gas generated by evaporation of the cargo during maritime transport. The results presented in the paper have been...

The MV Ever Given’s stranding in the Suez Canal in March 2021 prompted renewed awareness of the heightened risk of marine accidents in narrow channels as global shipping companies continuously expand vessel sizes. However, there has been limited consideration of ways to improve accident response, and little analysis of future-oriented liabilities and damage compensation schemes for similar maritime accidents. First, key issues related to the Suez Canal stranding accident were analyzed based on web crawling using the R studio program (Version: R-4.0.5) to extract text data from unstructured format text (HTML tags). We designed the research questions to address the key issues/disputes, such as definitions of legal terms related to the Ever Given’s stranding accident and the declaration of a general average (G/A), liability for maintaining seaworthiness, source of command authority over the captain, and liability for compensation for delay in delivery. Then, the liability of stakeholde...

The objective of this paper was to propose a functional simulation model for the operation of floating storage and regasification units (FSRUs) used for the import of liquefied natural gas (LNG). The physical operation of an FSRU is decomposed for each critical component of the LNG carrier (LNGC) and the FSRU, in order to construct a realistic model in Simulink. LNG mass balance equations are used to perform flow calculations from the tanks of an LNG carrier to the tanks of the FSRU and from there to shore. The simulation model produces results for cases, when multiple LNG carriers discharge cargoes during a monthly time horizon. This produces an accurate operational profile for the FSRU with information about the volume of LNG inside each of the cargo tanks of the FSRU, LNG cargo discharging and gas send-out rate. Potential practitioners may exploit the proposed planning tool to explore the feasibility of alternative operation scenarios for an FSRU terminal. The simulations can che...

At present, throughout the world LNG investments are abounding. In particular, the US and the EU are trying to facilitate their security of natural gas supply. For this reason, LNG enables importers to extend their gas suppliers' portfolio, considering that some producing countries can be reached only via sea transport. LNG will thus increase importers' choice; at the same time it can widen the group of exporting countries and enhance the construction of a global gas market. In the LNG value chain one can identify three elements: liquefaction, shipping and regasification. While the first and the last element of the value chain have been deeply studied, too little attention has been paid to shipping. Nevertheless, the number of operative ships will be one of the key variables for the increase of an effective spot market and, consequently, for a greater market liquidity. The goal of this paper is thus clear: will LNG shipping be able to sustain a liquid market? The findings are not straightforward. In fact, while on the one hand shipping is not likely to represent a bottleneck in the foreseeable future, at least for what concerns transport capacity, on the other hand most of the ships are bound to long-term contracts and this can be detrimental to competition. Moreover, shipping is often part of vertical integrated projects. Thus, authors cannot hypothesize that in the short term spot sales will grow, as it happened with oil tankers. Introduction: the increasing demand for LNG In these last few years one of the main concerns of both the EU and the US has been that of facilitating the safeguard of raw materials' security of supply, especially that of natural gas. Notably, the European Council has identified a list of instruments to strengthen its security of supply: as for natural gas, the LNG chain has been recognized as the most secure means of transportation (Directive 67/04, concerning the "Measures to safeguard security of natural gas supply"). Liquefied natural gas (LNG) is natural gas that has been cooled to the point that it condenses to a liquid, which occurs at a temperature of approximately-256° F (-161° C) and at atmospheric pressure. Liquefaction reduces the volume by approximately 600 times, thus making it more economical to transport between continents in specially designed ocean vessels, whereas traditional pipeline transportation systems would be less economically attractive and could be technically or politically infeasible. Thus, LNG technology makes natural gas available throughout the world. To make LNG available, energy companies must invest in a number of different operations that are highly linked and dependent upon one another. The major stages of the LNG value chain consist of the following: • Liquefaction, to convert natural gas into a liquid state so that it can be transported in ships; • Shipping the LNG in special purpose vessels; • Regasification, to convert the LNG stored in specially made storage tanks, from the liquefied phase to the gaseous phase, ready to be moved to the final destination through the natural gas pipeline system. Indeed, import through LNG chain does not imply an indissoluble physical tie between producer and buyer, contrary to what happens with pipelines (Chernyavs'ka e Dorigoni, 2002). In other words, the investment in a pipeline is very specific: according to Williamson (1985), the greater is the switching cost for an alternative use of any asset; the greater is its specificity. As for pipelines, their degree of specificity is maximum (the "site specificity" kind). Given this specificity, the counterparts recognize as vital the continuity of their contractual relation. That is why any such agreement will guarantee strong safeguards to each party, which would be unnecessary for more common neoclassic (nonspecific) transactions. For the natural gas market, these safeguards take the form of longterm agreements with minimum off-take requirements (take or pay clauses), designed to preserve counterparts from ex-post contractual opportunism (hold-up problem), that is really likely in these circumstances. Such contracts definitely contribute to the "cartelization" of the market, hindering competition. As said before, the LNG chain presents a much lower degree of specificity: in fact, even though the construction of a regasification plant is generally tied to the stipulation of a long-term agreement (with take or pay clause), once the contract is expired and the investment is sunk, the importer may satisfy his gas supply needs on the basis of his relative gains. Moreover, LNG costs have significantly decreased over time, thanks to the technological innovation (Oil&Gas Journal 2006); at the same time, it is getting increasingly common that part of regasification plant capacity is made available for spot transactions (in some countries this is a regulatory requirement, CEER, 2006).

Climatologists around Meinshausen [1] calculated in a probabilistic approach that for a given probability to stay below 2° global warming, there is a certain budget of CO2 emissions worldwide, which must not be exceeded. If this is true, the air transportation system as a part of the overall global industrial system needs to be renovated in order to achieve the 2° target. The research question is: How big is the responsibility for the aviation industry and what consequences for the ATS and aircraft design emerge out of the carbon budget considerations? Quantitative scenarios as a part of a climate-ecological assessment loop and an ATS re-engineering model are developed to gain insight in necessary technology decisions in order to achieve a certain climate target and to analyze implications of different zero emission aircraft entry into service patterns using forward and backward oriented scenario methods. The main goal of this paper is to close the conceptual gap between a global climate target, climate-ecological assessment in aviation and climate related requirements deduction for future aircrafts.

This paper examines the problem of evaporation of Liquefied Natural Gas (LNG) occurring at different places in the LNG supply chain. Evaporation losses in the LNG supply chain are one of the key factors for LNG safety, technical and economic assessment. LNG is stored and transported in tanks as a cryogenic liquid, i.e. as a liquid at a temperature below its boiling point at near atmospheric pressure. Due to heat entering the cryogenic tank during storage and transportation, a part of the LNG in the tank continuously evaporates creating a gas called Boil-Off Gas (BOG), which changes the quality of LNG over time. The general methods of handling and utilization of the Boil-Off Gas at different points in the LNG supply chain are presented. Attention is given to the issue of LNG energy content transferred during loading and unloading of LNG tankers, as well as to the Boil-Off Gas generated by evaporation of the cargo during maritime transport. The results presented in the paper have been...

The Paris Climate Agreement defined an ambition of limiting global warming to 1.5°C above preindustrial levels. This has triggered research on stringent emission reduction targets and corresponding mitigation pathways across energy economy and societal systems. Driven by methodological considerations, supply side and carbon dioxide removal options feature prominently in the emerging pathway literature, while much less attention has been given to the role of demand-side approaches. This special issue addresses this gap, and aims to broaden and strengthen the knowledge base in this key research and policy area. This editorial paper synthesizes the special issue's contributions horizontally through three shared themes we identify: policy interventions, demand-side measures, and methodological approaches. The review of articles is supplemented by insights from other relevant literature. Overall, our paper underlines that stringent demand-side policy portfolios are required to drive the pace and direction of deep decarbonization pathways and keep the 1.5°C target within reach. It confirms that insufficient attention has been paid to demand-side measures, which are found to be inextricably linked to supply-side decarbonization and able to complement supply-side measures. The paper also shows that there is an abundance of demand-side measures to limit warming to 1.5°C, but it warns that not all of these options are Bseen^or captured by current quantitative tools or progress indicators, and some remain insufficiently represented in the current policy discourse. Based on the set of papers presented in the special issue, we conclude that demand-side mitigation in line with the 1.5°C goal is possible; however, it remains enormously challenging and dependent on both innovative technologies and policies, and behavioral change. Limiting warming to 1.5°C requires, more than ever, a plurality of methods and integrated behavioral and technology approaches to better support policymaking and resulting policy interventions.

International shipping has finally set a target to reduce its CO 2 emission by at least 50% by 2050. Despite this positive progress, this target is still not sufficient to reach Paris Agreement goals since CO 2 emissions from international shipping could reach 17% of global emissions by 2050 if no measures are taken. A key factor that hampers the achievement of Paris goals is the knowledge gap in terms of what level of decarbonization it is possible to achieve using all the available technologies. This paper examines the technical possibility of achieving the 1.5 • goal of the Paris Agreement and the required supporting policy measures. We project the transport demand for 6 ship types (dry bulk, container, oil tanker, gas, wet product and chemical, and general cargo) based on the Organization for Economic Cooperation and Development's (OECD's) global trade projection of 25 commodities. Subsequently, we test the impact of mitigation measures on CO 2 emissions until 2035 using an international freight transport and emission model. We present four possible decarbonization pathways which combine all the technologies available today. We found that an 82-95% reduction in CO 2 emissions could be possible by 2035. Finally, we examine the barriers and the relevant policy measures to advance the decarbonization of international maritime transport.

The Global Carbon Budget is the cumulative carbon emissions that human activities can generate while limiting the global temperature increase to less than 2°C. On this basis, most countries ratified the Paris Agreement 2015, pledging to reduce national emissions and the impacts of climate change. The European Union has planned to reduce emissions by 80% of their 1990 value by 2050 but such a target needs to be coupled with a further constraint on the cumulative greenhouse gases released along the path to 2050. The aim and the novelty of this study are to propose, for the first time, a carbon budget for the European Union, which represents the most significant physical characteristic to assess the feasibility of current EU-28 greenhouse gas reduction objectives under the goals of the 2015 Paris treaty

Oceans that provide global mobility to trade and humans have been responsible for the spread of pandemics since ships have moved on the seas. Be it the infamous plague (1347–1352), cholera (1817), yellow fever (1845–1846), typhus (1892), tuberculosis or influenza (1918), they all have spread through ships moving on the oceans. Unlike the earlier episodes, the recent pandemic,1 COVID-19, has not spread through ships. However, there have been some incidents wherein ships were quarantined or disallowed entry to ports due to COVID-19 cases onboard. As the number of affected nations increased, international borders were closed and lockdowns enforced to prevent a spread that brought businesses to a grinding halt. This notwithstanding, lockdowns provided a unique window of opportunity to scientists and environmentalist alike to study the environmental changes using automated monitoring techniques such as information technology and remote sensing technology. Of these, only a few of studies have focused on the environmental changes in the maritime domain. It is with this understanding that the paper aims to discuss the maritime domains impacted by COVID-19 (GHG and oil pollution, marine litter, fisheries, marine tourism, underwater noise and waste water discharge) to highlight the lessons to learn from the public-health-emergency, COVID-19, to address climate change, a public-health-emergency-in-waiting.

The nature of legal personality is relative when it comes to the issue of ships. It is mostly accepted that a ship possesses corporate personality by creating a legal fiction under domestic laws. Ships lack legal personality in international law, but their rights and obligations flow directly from the rights and duties their parent state enjoys under international law. This work seeks to explain the concept of legal personality concerning ships and also highlights the primary international legal instrument that provides the nature of duties to be carried out by flag states.

The GHG footprint of LNG is worse than this of the current conventional fuels, argues Mr. Panos Zachariadis, Technical Director of Atlantic Bulk Carriers Management. With this respect, LNG should be viewed only as a SOx and NOx compliant fuel and those that invest in it 'should proceed on these grounds', he noted. Panos Zachariadis | Opinions | 29/06/18 LNG as marine fuel can comply with the new IMO requirements for sulfur oxides and NOx tier III emissions without the use of messy scrubbers and NOx reducing catalysts, both of which immensely increase the size and complexity of ships' engine-rooms as well as the crews' workloads. Not to mention the nasty inputs (e.g. urea) and outputs involved. However, with regards to its global warming effect, LNG-knowingly or not-has been credited with Global Warming reducing capability which is simply false. There are enough inconvenient truths in the maritime regulations already, but this one is the most important of all: it relates to our continued survival. I submit the stakes are higher with LNG and those of us who " know " should stop pretending, while those that don't should educate themselves. Most have heard the claim that LNG shipboard use as fuel results in " about 20-25% less CO2 " and that methane is, pound for pound, 25 times worse than CO2 in warming the atmosphere. Well, none of the previous two figures is really accurate. LNG is 95-98% methane, a very potent greenhouse gas. How potent? If we look toward a 100 year future time span, LNG is 34 times worse than CO2 (not just 25 times)*. But 100 years is erroneously used in this case. That time horizon started being used because this is the lifespan of CO2 in the atmosphere. But this is irrelevant. We should care what LNG does to the atmosphere for the next few years. Plus, our