arbiter
JournalsPricingAccount

The influence of energy efficiency and carbon indicators on ship prices: early evidence from the tanker and bulk carrier sectors

P.Y. Lu & Dimitrios Theocharis

Maritime Economics & Logistics2025https://doi.org/10.1057/s41278-025-00316-5article
AJG 1ABDC B
Weight
0.46

What the paper says

Abstract This paper examines the effect of Carbon Intensity Indicator (CII), Annual Efficiency Ratio (AER) and Energy Efficiency Existing Ship Index (EEXI) on secondhand ship prices. The relationship between these indices and vessel values is investigated, using unique data from sales transactions of Aframax and Handymax tankers, and Handysize bulk carriers between 2020 and mid-2023, obtained from (VesselsValue 2025. https://www.vesselsvalue.com/ ). Hypothesis testing is conducted, and hedonic price regression models are used to examine the relationship between energy efficiency and ship values. The results suggest that secondhand ships are priced differently, depending on their CII rating. The AER and EEXI are significant determinants of ship prices with varying elasticities, depending on ship type. Ship prices with lower EEXI and AER are valued higher and vice versa. These findings are important for industry stakeholders in the maritime sector and policy makers of environmental regulations in shipping.

4 citations

Open paper page →

Cite this paper

https://doi.org/https://doi.org/10.1057/s41278-025-00316-5

Or copy a formatted citation

@article{p.y.2025,
  title        = {{The influence of energy efficiency and carbon indicators on ship prices: early evidence from the tanker and bulk carrier sectors}},
  author       = {P.Y. Lu & Dimitrios Theocharis},
  journal      = {Maritime Economics & Logistics},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1057/s41278-025-00316-5},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

The influence of energy efficiency and carbon indicators on ship prices: early evidence from the tanker and bulk carrier sectors

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.46

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.37 × 0.4 = 0.15
M · momentum0.60 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.