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http://dx.doi.org/10.38121/kpea.2020.03.36.1.23

Effect of Low Sulphur Fuel Oil Use on Korean Container Shipping Companies by IMO Environmental Regulations  

Park, Sunghwa (한국해양수산개발원)
Han, Chulhwan (동서대학교 국제물류학과)
Kim, Taeil (한국해양수산개발원)
Publication Information
Journal of Korea Port Economic Association / v.36, no.1, 2020 , pp. 23-40 More about this Journal
Abstract
This study examined the background of IMO environmental regulations and countermeasures of domestic and foreign liner shipping companies and also analyzed the additional cost and profitability of container shipping companies by implementation of IMO 2020, when the fuel oil is converted to low sulfur oil. The results show that the national flag carrier would incur significant additional costs when using low sulfur oil, which would worsen its profitability in all scenarios. These analysis results suggest that for regional shipping companies need reasonable BAF setting standards, which is flexible to the price of fuel oil and also seek ways to co-exist through mutual cooperation among oil refiners, shippers and shipping companies.
Keywords
IMO 2020; Environmental Regulation; Low sulphur fuel oil; BAF;
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