Financing green ships through export credit schemes

Schinas, Orestis; Ross, Harm Hauke; Rossol, Tobias Daniel

doi:10.1016/j.trd.2018.08.013

Cited by 19 publications

(5 citation statements)

References 37 publications

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“…In other cases, researchers suggested a homogenous enforcement regime to prevent market distortion caused by the sulphur cap (Zis and Cullinane 2020 ). Finally, alternative approaches were also indicated with export credit facilities financing the higher price of compliance or acquisition of new green ships (Schinas et al 2018 ), or the use of LNG as it is fully desulfurized (Schinas and Butler 2016 ).…”

Section: Literature Reviewmentioning

confidence: 99%

Assessing the impact of sulfur cap on bunkering spot selection in the ARA region

Schinas

Ourolidis

2022

WMU J Marit Affairs

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The introduction of IMO2020, the outbreak of COVID-19, and the oil price drop in 2020 had a significant impact on operators’ operating profits. Therefore, a competitive analysis of bunkering spots that suggests the optimal location for bunkering is of interest. This paper uses a combination of primary and secondary research, both from operators’ and suppliers’ side, to identify the key performance factors (KPFs) affecting the decision-making process of a bunkering port selection process. Answers were then combined by using a fuzzy TOPSIS analytical approach to quantify the competitive position of each port in the Amsterdam-Rotterdam-Antwerp (ARA) region. Results suggest that availability of low sulfur bunkers, bunker quality, bunker price, reliability, punctuality, and safety of bunkering services, as well as usage and availability of barges are the key KPFs in order of importance. Sulfur cap has not changed the competitive environment in the region as the geographic advantage of the port of Rotterdam plays a crucial role in the comparison with the other ports, in contrast to expressed concerns in the industry.

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Section: Literature Reviewmentioning

confidence: 99%

Assessing the impact of sulfur cap on bunkering spot selection in the ARA region

Schinas

Ourolidis

2022

WMU J Marit Affairs

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“…The regulation on CO 2 was introduced in 2011. Resolution MEPC.203 (62) amended MARPOL Annex VI and introduced the Energy Efficiency Design Index (EEDI) and the Ship Energy Efficiency Management Plan SEEMP, a mechanism for operators to improve the energy efficiency of ships by providing guidance on shipboard procedures and practices aimed at improving the energy efficiency and conservation [17]. Polakis et al provided a thorough analysis on the EEDI [18].…”

Section: Policy Outline and Literature Review 21 Policy Outlinementioning

confidence: 99%

“…circa USD 600bn [7] as well as of USD 3.43tn [8], triggered this work, as stated before. The exhaustive listing of works related to ship finance is beyond the scope of this work; however, the common practices and risk-management approaches, widely accepted in the academia and the industry, are discussed in detail in textbooks [60,61], as well as in recent papers discussing the gap of financing green shipping, such as Schinas et al [62]. The base case of ship finance projects is a mix of equity and loans, where loans are provided by commercial banks.…”

Section: Decarbonizing the Fleet: Overview Of Financial Issuesmentioning

confidence: 99%

The Short-Term Cost of Greening the Global Fleet

Schinas

Bergmann

2021

Sustainability

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Decarbonizing maritime transport is among the top priorities of regulators and continuously attracts significant research attention. However, the cost of renewing and greening the fleet has not been explored in detail. To address this gap, the paper provided a bottom-to-top estimation of the financial need associated with decarbonizing the global shipping fleet for the next 5 years, i.e., until 2026. By developing a model focusing on the main asset classes, the paper approximated the expenditure implied in the short-term fleet renewal (newbuilding and vessel demolition) as well as the expenditure linked to retrofitting the existing fleet. The results indicated an aggregate financial need of USD 317bn until 2026. Thereof, USD 235bn are associated with building new ships, while USD 114bn are allocated to retrofitting. Furthermore, proceeds of USD 33bn can be generated via demolition sales of old tonnage, reducing the total financial burden. The results entail important policy implications, as they document the monetary impact on investors, lenders, and shipping companies regarding distinct segments of the fleet. Considering the declining overall supply of capital towards shipping, the given results provide a transparent account of the absolute financial implications of decarbonization policies.

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“…In recent years, studies on SSC have explained why and how intra-firm resources and capabilities are acquired. For instance, to comply with the IMO 2020 Global Sulphur Cap and other environmental regulations, shipping companies use sustainable physical assets such as green ships with more efficient engines or scrubbers; these assets also provide cost benefits to the company (Schinas et al, 2018). Similarly, Busby (2019) pointed out that investment in financial resources allows shipping companies to enhance the environmental performance of their vessels and the welfare of seafarers, as well as their image and reputation (Ben-Hador, 2019).…”

Section: Introductionmentioning

confidence: 99%

The impacts of sustainable inter-firm collaboration on business performance of shipping companies

Tran

Woo

Yuen

2021

IJLM

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PurposeTo gain competitive advantage, shipping companies need the abilities to manage environmental requirements, which this study refers to as sustainable shipping capabilities, including internal resources and external factors such as inter-firm collaboration. However, previous studies mainly focused on the effectiveness of internal resources, leading decision-makers in shipping companies to undervalue the significance of external relationships in managing sustainability issues and their impact on performance. Therefore, this paper aims to identify and examine the impacts of sustainable inter-firm collaboration on shipping companies' business performance (i.e. shippers' loyalty and financial performance).Design/methodology/approachA proposed model that explains the relationships between relation bonding strategies, sustainable inter-firm collaboration and business performance was developed. Accordingly, a survey questionnaire was constructed and sent to 294 shipping companies in Vietnam. Structural equation modeling was deployed to examine the validity of the measurement items and investigate relationships among the latent constructs.FindingsThe findings show that financial bonding strategies have the most significant impact on sustainable inter-firm collaboration, followed by social bonding strategies and structural bonding strategies. Furthermore, sustainable inter-firm collaboration has direct and indirect (via perceived shippers' loyalty) effects on business performance.Research limitations/implicationsRelational bonding strategies provide a unique perspective to sustainable inter-firm collaboration. This study also contributes to allocate external resources and capabilities to improve inter-firm collaboration, thereby maximizing financial performance.Originality/valueThis paper contributes to the literature by applying relational bonding strategies that determine the key factors enabling sustainable inter-firm collaboration.

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Financing green ships through export credit schemes

Cited by 19 publications

References 37 publications

Assessing the impact of sulfur cap on bunkering spot selection in the ARA region

Assessing the impact of sulfur cap on bunkering spot selection in the ARA region

The Short-Term Cost of Greening the Global Fleet

The impacts of sustainable inter-firm collaboration on business performance of shipping companies

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