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reason, this paper mainly considers the combined influence of operational and market-
based measures on the annual profit of a containership.
There are several types of specific operational measures to mitigate CO 2 emissions
from containerships. Ship operators tend to prefer speed reduction when there is an
emissions trading scheme [12]. Speed reduction is inexorably linked with fuel cost
and ship profits. Based on the original maximum profit speed, we propose several
ship speed reduction rates and calculate their corresponding annual profits and CO 2
emissions. Ship speed keeps stable in each round trip.
Based on Equation (7), we construct a model to calculate the annual emissions and
profit of a ship when it responds with speed reduction. CO 2 emissions coming from a
containership in a cycle route between and will be
3.17
(8)
(9)
(10)
where is the rate of speed reduction. is the operational speed at sea of contai-
nership from back to . denotes the distance from to ports. is the
total days ship stays in port in the cycle route between and . and
are fuel consumptions at sea after speed modification.
Based on the marine emissions trading scheme proposed above, CO 2 emissions ex-
ceeding the free quantity should be auctioned, and those exceeding the cap of allow-
ances should be purchased in the market. This paper assumes that ship operators will
not reduce speed sharply to make profit on the saving allowances. Then annual profit
of a containership after slow steaming under the scheme can be calculated as follows:
π T R W R W C C C
(11)
C C P M MF S
S
(12)
S
P A AF
C C P M MF S
S
(13)
S
P A AF
C P A AF C D P
(14)
P CO F CO nP CO C CO m
(15)
where denotes the auction price of CO 2 allowance. denotes the purchase price
of CO 2 allowance. denotes the free allowance a ship gets. denotes
CO 2 allowance cap for a ship. is CO 2 cost. is the total annual profit of ship
. and are constants, which values are either 0 or 1.
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