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Keywords

Operational carbon intensity, Annual efficiency ratio (AER), Energy efficiency operational indicator (EEOI), LNG, Methanol, Operational efficiency, Decarbonization, Capesize bulk carrier

Document Type

Research Article

Abstract

The growing urgency of maritime decarbonization and the efforts toward achieving it are a critical subject of academic debate. This research provides a comprehensive empirical analysis of the operational carbon intensity of a Capesize bulk carrier having 176,859 deadweight tonnage using a full year of noon report data. In addition, a forward-looking scenario analysis was conducted to compare the vessel’s performance under alternative fuel options including liquefied natural gas, and Methanol. The findings were then compared with maritime sector data from the period 2008 to 2018. The primary findings confirm the ship’s exceptional efficiency in load-dependent metrics, with its Energy Efficiency Operational Index value of 2.78 gCO2/t/nm significantly outperforming the sector’s best value (i.e., minimum) of 17.10 gCO2/t/nm and its Annual Efficiency Ratio value of 2.57 gCO2/t/nm securing a critical advantage for the sector’s best value which is 6.31 gCO2/t/nm. Additionally, the time-based indicator (TIME) value of the ship with 2.47 tCO2/hr remained lower than the 3.64 tCO2/hr, which is the best value of the sector. Conversely, the analysis highlights a key challenge in voyage-based metrics, as the ship’s distance-based indicator (DIST) value of 454.2 kgCO2/nm exceeded the sector’s best value of 306.46 kgCO2/nm indicating lower performance within the scope of this metric. Additionally, scenario analysis confirms that utilizing LNG or methanol as alternative fuels instead of conventional fuels leads to a substantial improvement across all four indices. The use of LNG and Methanol as marine fuels reduces the EEOI value by 24.82% and 10.43% respectively.

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