Investigation of energy efficiency and environmental effects on valuation for bulk carriers

Abstract

Dry cargo vessels consume high energies. Despite the low freight rates, shipowners have to operate their ships in compliance with eco-friendly regulations. The study aims to determine dry cargo vessels' valuation considering energy efficiency and environmental effects. Average energy performance regarding fuel consumption for 30 voyages was calculated as 31.54% within the study. A one-degree temperature reduction in this load distribution was found a 5.27% savings, with 510.31 tons. Accordingly, it is concluded that the ship's value increased to 1.4 million USD at the end of its economic life.