Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/226431 
Year of Publication: 
2019
Series/Report no.: 
Diskussionspapier No. 182
Publisher: 
Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre, Hamburg
Abstract: 
This work analyzes economic implications of climate change regulation in maritime transport by providing an in-depth evaluation of the relationship between the green profile of ships and their secondhand price volatility. It takes into account findings from an analysis of 500 ships across main shipping segments. Statistical results based on the Energy Efficiency Design Index (EEDI) and the standard deviation of year-to-year changes in second-hand ship prices indicate that, on average, green ships exhibit lower second-hand price volatility. Consequently green ships could provide more stable collateral to financiers and potentially steadier economic prospects to ship owners. In addition, this paper introduces the concept of stochastic dominance when analyzing the utilization prospects in the context of the chartering decision-making process of ships with different environmental profiles. It therefore complements existing research on split incentives as a barrier to energy efficiency.
Subjects: 
energy efficiency design Index
ship price volatility
stochastic dominance
maritime transportation
air emissions from ships
MARPOL Annex IV
Document Type: 
Working Paper

Files in This Item:
File
Size
814.55 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.