Reviewing the role and effectiveness of wind-assisted ship propulsion technology in the maritime industry’s decarbonization efforts
SONAR|HES-SO
- Marinoni, Nathan
- Shu, Luke (Degree supervisor)
- Genève : Haute école de gestion de Genève
80 p.
Bachelor of Science HES-SO in International Business Management: Haute école de gestion de Genève, 2024
English
This thesis explores the role and effectiveness of WASP technology in decarbonizing the maritime industry, which contributes about 3 percent of global greenhouse gas emissions. The study evaluates if WASP can enhance decarbonization efficiency and serve as a cost-effective investment tool for shipping companies. Based on a comprehensive literature review and interviews with industry experts, including a Decarbonization Specialist, a Ship Performance Manager, and a Founder and Managing Director of a shipping company, the study provides insights into the operational, financial, and regulatory aspects of WASP technologies.
Findings indicate that WASP technologies can achieve significant fuel savings, translating into substantial reductions in GHG emissions. This helps companies comply with regulations like the CII. Despite high initial installation costs and complexities, long payback periods, and variable wind efficiency, the long-term benefits justify the investment. These benefits include fuel savings, operational savings, and compliance with increasingly strict environmental regulations. As technology advances and production scales up, costs are expected to decrease, enhancing financial viability.
The study recommends early investment in WASP technologies and implementing flexible financial models like leasing or rental agreements to reduce upfront costs. WASP should be part of a broader decarbonization strategy, including alternative fuels, advanced hull designs, and operational optimizations. Continued collaboration among industry stakeholders, technology providers, and regulatory bodies is essential for technological improvements and confidence in WASP investments.
Effective regulatory frameworks are crucial for promoting WASP adoption. Policies like the EU ETS and compliance credits can offset initial costs and provide financial incentives. Well-designed regulations are needed to create a level playing field and encourage widespread adoption.
In conclusion, WASP technologies offer a promising solution for reducing the maritime industry's carbon footprint. Strategic integration of these technologies, supported by regulatory incentives and industry collaboration, can significantly enhance environmental and economic performance. Investing in WASP aligns with global decarbonization goals and positions companies to thrive in a future focused on sustainability. This report underscores the transformative potential of WASP technologies, making it an essential reading for stakeholders committed to a greener future.
Findings indicate that WASP technologies can achieve significant fuel savings, translating into substantial reductions in GHG emissions. This helps companies comply with regulations like the CII. Despite high initial installation costs and complexities, long payback periods, and variable wind efficiency, the long-term benefits justify the investment. These benefits include fuel savings, operational savings, and compliance with increasingly strict environmental regulations. As technology advances and production scales up, costs are expected to decrease, enhancing financial viability.
The study recommends early investment in WASP technologies and implementing flexible financial models like leasing or rental agreements to reduce upfront costs. WASP should be part of a broader decarbonization strategy, including alternative fuels, advanced hull designs, and operational optimizations. Continued collaboration among industry stakeholders, technology providers, and regulatory bodies is essential for technological improvements and confidence in WASP investments.
Effective regulatory frameworks are crucial for promoting WASP adoption. Policies like the EU ETS and compliance credits can offset initial costs and provide financial incentives. Well-designed regulations are needed to create a level playing field and encourage widespread adoption.
In conclusion, WASP technologies offer a promising solution for reducing the maritime industry's carbon footprint. Strategic integration of these technologies, supported by regulatory incentives and industry collaboration, can significantly enhance environmental and economic performance. Investing in WASP aligns with global decarbonization goals and positions companies to thrive in a future focused on sustainability. This report underscores the transformative potential of WASP technologies, making it an essential reading for stakeholders committed to a greener future.
- Language
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- English
- Classification
- Economics
- Notes
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- Haute école de gestion Genève
- International Business Management
- hesso:hegge
- Persistent URL
- https://folia.unifr.ch/global/documents/330885
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