Exploring Future Price Development of Alternative Maritime Fuels: a case study of Viking Line
Carla, Catherine (2025)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025060319922
https://urn.fi/URN:NBN:fi:amk-2025060319922
Tiivistelmä
This thesis examined future fuel price development in the maritime industry and the transition toward alternative fuels. The shipping sector, under increasing pressure to decarbonise, faces numerous challenges in adopting cleaner energy sources due to high costs and uncertainties surrounding their future price development. Regulations implemented by the EU, such as the EU ETS and FuelEU Maritime, are intended to drive the shift toward sustainability, but their economic impact on shipping companies remains a concern.
The objective of this thesis was to explore the price development and cost projections of alternative maritime fuels. This was achieved through a case study analysis of Viking Line, a passenger and cargo ferry/cruise operator committed to reducing its environmental impacts. The research focused on understanding the company's strategies, challenges, and expectations regarding fuel price projections.
Qualitative methods were employed, combining a review of relevant literature with semi-structured interviews. Key personnel at Viking Line, including the Chief Engineer, Technical Director, Sustainability Manager, and Chief Financial Officer, were interviewed to gather insights into their perspectives on alternative fuel adoption and economic considerations. The interviews provided an understanding of the company's approach to maritime decarbonisation.
The study revealed that while a company-wide commitment to sustainability exists, the economic viability of alternative fuels remains a primary concern. The high costs and limited availability of greener solutions pose significant challenges, and the future price development of these fuels is subject to numerous uncertainties. The findings emphasised the need for collaborative efforts, technological innovation, and supportive policy frameworks to facilitate a cost-effective transition to a more sustainable maritime industry.
Keywords: alternative maritime fuel, price development, cost projections, regulations, shipping decarbonisation
The objective of this thesis was to explore the price development and cost projections of alternative maritime fuels. This was achieved through a case study analysis of Viking Line, a passenger and cargo ferry/cruise operator committed to reducing its environmental impacts. The research focused on understanding the company's strategies, challenges, and expectations regarding fuel price projections.
Qualitative methods were employed, combining a review of relevant literature with semi-structured interviews. Key personnel at Viking Line, including the Chief Engineer, Technical Director, Sustainability Manager, and Chief Financial Officer, were interviewed to gather insights into their perspectives on alternative fuel adoption and economic considerations. The interviews provided an understanding of the company's approach to maritime decarbonisation.
The study revealed that while a company-wide commitment to sustainability exists, the economic viability of alternative fuels remains a primary concern. The high costs and limited availability of greener solutions pose significant challenges, and the future price development of these fuels is subject to numerous uncertainties. The findings emphasised the need for collaborative efforts, technological innovation, and supportive policy frameworks to facilitate a cost-effective transition to a more sustainable maritime industry.
Keywords: alternative maritime fuel, price development, cost projections, regulations, shipping decarbonisation