Optimising containership speed and fleet size under a carbon tax and an emission trading scheme

Optimising containership speed and fleet size under a carbon tax and an emission trading scheme

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Article ID: iaor20135135
Volume: 5
Issue: 6
Start Page Number: 571
End Page Number: 590
Publication Date: Sep 2013
Journal: International Journal of Shipping and Transport Logistics
Authors: , ,
Keywords: heuristics, economics
Abstract:

This paper addresses the problem of determining the ship speed, fleet size, and chartered ship number subject to environmental regulations consisting of a carbon tax and an emission trading scheme. The objective of the problem is to minimise bunker consumption cost, ship operating cost, ship charterage and either the carbon tax or the revenue/cost of selling/purchasing CO2 emissions permits. We formulate the problems as non‐linear programmes by considering the two regulations independently. This study also suggests Lagrangian heuristics to solve the problems. A case study is performed to evaluate the applicability of the heuristics.

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