Steering Toward a Sustainable Future: A Comparative Technical- Economic Review of Maritime Industry Options
Abstract:
Over the past two decades, the world has faced record-high temperatures and increasingly extreme weather events, underscoring the urgency of addressing climate change. Responsible for approximately 2-3% of global CO₂ emissions, the maritime sector faces increasing regulatory pressure under the International Maritime Organization (IMO) to align with its greenhouses gas reduction strategy, which aims for net-zero emissions by 2050. Since the adoption of MARPOL annex VI in 2005 and the subsequent introduction of new air pollution and energy eficiencies regulations, shipowners have been compelled to implement a range of compliance and mitigation measures, including low sulfur fuels, installation of exhaust gas systems and developments of innovative alternative propulsion technologies. This study presents a comprehensive technical-economic assessment of retrofit alternatives for a 1998-built vessel to evaluate realistic pathways toward compliance and sustainability within the sector. Using mathematical modeling and real operation data, the analyses quantify the energy and emission impacts of each option, highlighting their respective environmental and financial implications for aging ships. The findings provide critical insight into the trade-offs between immediate regulatory compliance and long-term decarbonization, contributing to the broader discussion on the technological and operational strategies required to achieve sustainable maritime transport.
