The desulphurisation of shipping: Past, present and the future under a global cap

Global trends in maritime and port economics: the COVID-19 pandemic and beyond

“…The increasing influence of the environmental agenda on maritime business has already been alluded to. During the first few weeks of 2020, when COVID-19 had not yet been recognized as the problem it was to become, the focus of interest in the shipping industry was on the potential effect of the International Maritime Organization (IMO) 2020 global sulphur cap regulation, particularly with respect to its impact on the operational costs of ships and, thus, on the competitiveness of the shipping industry (Zis and Cullinane 2020 ). Considerable uncertainty existed then, and persists still, as to the efficacy of scrubbers (Endres et al.…”

Shipping markets in turmoil: An analysis of the Covid-19 outbreak and its implications

“…While the shipping markets were still recovering from the new desulphurization legislation ( Zis and Cullinane, 2020 ), the new virus has hit the markets hard. 1 The freight rates have dropped by 73% for the dry bulk segment, by 36% for the dirty tankers segment and by 30% for the clean tanker segment, as it can be observed from Fig.…”

How Long Do We Keep Up With the Joneses? Herding Time Horizons in the Dry Bulk Shipping Markets

“…Given the above, it would perhaps be advocated that when changes are to be implemented by maritime organizations, they could perhaps be first discussed thoroughly with all the involved parties before formally turning them into legislation. The reason, as suggested earlier, is that abnormal obstructions of the market, in the forms of reactions by larger players to unexpected legisla-tions, such as carbon emissions of vessels (Adamopoulos, 2020;Zis & Cullinane, 2020) could enhance the market's inherent volatility. Higher volatility could ultimately affect smaller shipowners via having a strong effect on their cashflows, their overall costs, and ultimately the overall viability of their firms.…”