Impact analysis on shipping lines and European ports of a cap- and-trade system on CO2 emissions in maritime transport

The maritime transport sector still falls outside the scope of the mechanisms for the reduction of greenhouse gas (GHG) emissions established by the Kyoto Protocol. However, given the prospect of an increase in CO2 emissions caused by shipping, the debate surrounding regulations relating to emissions in this sector is intensifying in several international fora. The International Maritime Organization and the European Union are discussing the introduction of a market-based measure for maritime transport. This article focuses on the principle of a cap-and-trade system and explores the potential impacts of the implementation of such a measure on the organisation of containerised shipping lines and European ports. To respond to these questions, different scenarios varying the scope for application and the degree of connection with other existing cap-and-trade markets have been constructed. The results demonstrate significant and differentiated effects between the various scenarios.