In a world where green is the new black, a study led by Chathumi Ayanthi Kavirathna from the University of Kelaniya in Sri Lanka is stirring up the dry bulk shipping sector. Kavirathna, an academic from the Department of Industrial Management, has been crunching the numbers on how an Emission Trading System (ETS) might shake up the optimum routing between the Northern Sea Route (NSR) and the Suez Canal Route (SCR). Her findings, published in Cleaner Logistics and Supply Chain, offer a fresh perspective on the commercial impacts and opportunities for maritime sectors.
So, what’s the big deal? Well, Kavirathna and her team analyzed 174 dry bulk voyages between Asia and Europe, and the results are eye-opening. They found that nearly 35 voyages could save costs by taking the NSR when the SCR speed is a modest 10 knots. But here’s where it gets interesting: if the SCR speed picks up to 15 or 20 knots, that number jumps to 80 and 160 voyages, respectively. “Although all voyages save emissions with NSR if SCR speed equals 15 or 20 knots, only limited voyages save emissions via NSR if SCR speed equals 10 knots,” Kavirathna notes.
But it’s not all about the money, honey. The study also found that a much faster voyage via NSR than SCR could save more voyage costs, but it might not save emissions. Conversely, a much shorter voyage via NSR could save more emissions, but it might not save costs. It’s a balancing act, and Kavirathna’s model derives over 90 feasible voyages for NSR, depending on various factors like free-emissions quota, icebreaker availability, navigation month, fuel prices, and fuel types.
Now, let’s talk opportunities. The ETS could make some voyages both environmentally and economically feasible via NSR, even if they weren’t before. But here’s the kicker: if vessels slow steam via SCR, the ETS wouldn’t significantly enhance NSR’s feasibility. So, speed matters, folks.
And get this: NSR is more feasible if the maritime industry uses expensive and cleaner fuel types. It’s a win-win for the environment and the bottom line. But remember, every voyage is unique, and what works for one might not work for another. It’s all about finding that sweet spot.
So, what’s the takeaway? Kavirathna’s study is a wake-up call for the dry bulk shipping sector. It’s time to start thinking about optimum routing in a new light, considering the ETS and the NSR. The opportunities are there, and the time to seize them is now. After all, every voyage counts, and every emission matters. So, let’s steer our ships towards a greener future, one voyage at a time.