The Impact of Environmental Regulations on the Ship Scrapping Market

Sanguk Nam ()
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Sanguk Nam: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 22-2, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Global interest in Environmental, Social, and Governance (ESG) standards has increased. This has stimulated the introduction of new environmental policies in a major economic sector including the shipping industry. The double hull regulation has been evaluated as one of most effective regulations in the maritime shipping industry. The prohibition of risky, single-hulled oil tankers has affected related industries, including the shipping, shipbuilding, and ship scrapping sectors. In particular, the double hull regulation could have a substantial impact on shipping and shipbuilding-related Korean industries and ecosystems, as Korea ranks first globally in shipbuilding and seventh in shipping. This paper estimates the impact of the double hull regulation on the ship scrapping market through survival analysis.

Keywords: shipbuilding industry; shipbuilding; ship scrapping; ESG; maritime industry; maritime shipping; shipping; shipping regulation; maritime policy (search for similar items in EconPapers)
JEL-codes: L62 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2022-01-01
New Economics Papers: this item is included in nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kieter:2022_002

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