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possible auction rates in the future marine emissions trading scheme. Table 1 summa-
rizes the key factors of the marine emissions trading scheme here proposed.
3
Profitability of Containerships with Different Speed Reduction
Rates under the Marine Emissions Trading Scheme
Although there are several kinds of ship delivering cargos between continents, this
article mainly focuses on containerships. Containerships are usually operated on
closed routes (also known as cycles, strings or loops) and follow a published schedule
of sailings [25]. A route is a specified sequence of calling ports that each container-
ship assigned to that route repeats on each voyage.
This paper assumes that all the parameters used to calculate ship annual revenue,
cost and CO
2
emissions are constant under the period of this study. Given this as-
sumption, a model is developed to calculate maximum annual profit speed of a
containership and its corresponding profit and CO
2
emissions.
Definition of each parameter used in the model is summarized as follows.
:
the origin port
:
the destination port
:
an individual containership serving the
route
F
:
the whole fuel consumption of ship
from
to
(tons)
:
main engine maximum daily fuel consumption (tons/day)
AF
:
auxiliary engine daily fuel consumption when ship is at sea (tons/day)
AF
:
auxiliary engine daily fuel consumption when ship stays in port
(tons/day)
:
the design speed (maximum speed) at sea of containership
(knot)
:
the operational speed at sea of containership
from
to
(knot)
the distance from
to
port (nautical miles)
:
:
the profit from the origin
to the destination
per year (USD)
:
the freight rate of per TEU from the origin
to the destination
(USD)
the number of TEUs per ship in one trip from
to
:
:
the fixed cost per day for containership
excepting auxiliary engine
fuel cost (USD)
the price of bunker fuel for main engine (USD/ton)
P
:
P
:
the price of bunker fuel for auxiliary engine (USD/ton)
:
total days ship stays in port from
to
,
:
the number of trips made by containership
between
to
per year
Based on these parameters, equation (1) represents an annual profit function for
ship
from the origin
to the destination
[12],
(1)
where
(cost at sea) and
(cost in port), respectively, are
