ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES

Berk Yıldız

ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES

Abstract

This study provides a thorough examination of the financial dynamics in the shipping sector, specifically examining the impact of the main engine type on financial performance and operational strategy. The maritime industry is an intricate environment where multiple factors interplay to ascertain profitability and sustainability. The main engine type selection is a critical factor that influences shipping companies’ financial aspects, including fuel efficiency, maintenance costs, and overall operating effectiveness. This article explores the complex correlation between the main engine type and financial success in the maritime industry by conducting a comprehensive analysis of financial data, industry trends, and case studies. The study investigates how several engine technologies, including heavy and light fuel oils and liquid natural gas, impact fuel expenses. This research provides insights into optimizing fleet management strategies and investment decisions by assessing the financial effects of the fuel type used in the KRISO container ship that is mostly utilized in benchmarking studies.

Keywords

References

[1]Acanfora, M., Altosole, M., Balsamo, F., Micoli, L., & Campora, U. (2022). Simulation Modeling of a Ship Propulsion System in Waves for Control Purposes. Journal of Marine Science and Engineering, 10(1), 36. https://doi.org/10.3390/jmse10010036
[2]Albertijn, S., Bessler, W., & Drobetz, W. (2011). Financing Shipping Companies and Shipping Operations: A Risk‐Management Perspective. Journal of Applied Corporate Finance, 23(4), 70–82. https://doi.org/10.1111/j.1745-6622.2011.00353.x
[3]Bernacki, D. (2021). Revealing the Impact of Increased Tanker Size on Shipping Costs. European Research Studies Journal, XXIV(1), 604–621. https://doi.org/10.35808/ersj/1983
[4]Chasiotis, I., Konstantios, D., & Naoum, V.-C. (2021). Dividend Dynamics in the Shipping Industry: A Panel Data Analysis of Partial Adjustment Models. Theoretical Economics Letters, 11(5), 995–1001. https://doi.org/10.4236/tel.2021.115063
[5]Durante, D., Broglia, R., Diez, M., Olivieri, A., Campana, E. F., & Stern, F. (2020). Accurate experimental benchmark study of a catamaran in regular and irregular head waves, including uncertainty quantification. Ocean Engineering, 195, 106685. https://doi.org/10.1016/j.oceaneng.2019.106685
[6]Gao, J., Chi, M., & Hu, Z. (2022). Energy Consumption Optimization of Inland Sea Ships Based on Operation Data and Ensemble Learning. Mathematical Problems in Engineering. https://doi.org/10.1155/2022/9231782
[7]Göksu, B. (2022). Analysis of the contribution of the kite-assisted ship propulsion systems to the ships’ propulsion efficiency. Dokuz Eylül University.
[8]Gu, Y., Wang, Y., & Zhang, J. (2022). Fleet deployment and speed optimization of container ships considering bunker fuel consumption heterogeneity. Management System Engineering, 1(1), 3. https://doi.org/10.1007/s44176-022-00003-2

[9]Gunes, U. (2023). Estimating bulk carriers’ main engine power and emissions. Brodogradnja, 74(1), 85–98. https://doi.org/10.21278/brod74105
[10]Haider, J., Ou, Z., & Pettit, S. (2019). Predicting corporate failure for listed shipping companies. Maritime Economics and Logistics, 21(3), 415–438. https://doi.org/10.1057/s41278-018-0101-4
[11]Handoyo, T., Handani, D. W., Sudaryanto, A., & Nugroho, T. H. (2022). Design of a Real-Time Monitoring System for Performance Parameter and Alarm of the Main Engine RV. Baruna Jaya III. IOP Conference Series: Earth and Environmental Science, 1081(1), 012024. https://doi.org/10.1088/1755-1315/1081/1/012024
[12]Hess, M., & Hess, S. (2015). Multi-objective ship’s cargo handling model. Transport, 30(1), 55–60. https://doi.org/10.3846/16484142.2013.791999
[13]Hopcraft, R., Tam, K., Misas, J. D. P., Moara-Nkwe, K., & Jones, K. (2023). Developing a maritime cyber safety culture: Improving safety of operations. Maritime Technology and Research, 5(1), 258750. https://doi.org/10.33175/mtr.2023.258750
[14]Islam, M. R., Saidur, R., & Rahim, N. A. (2011). Assessment of wind energy potential at Kudat and Labuan, Malaysia, using the Weibull distribution function. Energy, 36(2), 985–992. https://doi.org/10.1016/j.energy.2010.12.011
[15]Ivanov, G., & Polyansky, P. (2022). Determining the probability of failure of marine diesel engine parts. Ukrainian Black Sea Region Agrarian Science, 26(4), 62–72. https://doi.org/10.56407/2313-092x/2022-26(4)-6
[16]Mallouppas, G., & Yfantis, E. A. (2021). Decarbonization in the Shipping industry: A review of research, technology development, and innovation proposals. Journal of Marine Science and Engineering, 9(4), 415. https://doi.org/10.3390/jmse9040415
[17]Moon, D. S. H., & Woo, J. K. (2014). The impact of port operations on efficient ship operation from both economic and environmental perspectives. Maritime Policy and Management, 41(5), 444–461. https://doi.org/10.1080/03088839.2014.931607
[18]Osovskii, D., & Sharatov, A. (2019). Development of offers on the application of additional jet impact on the fixed pitch propeller for the purpose of rational use of the power of the main engine. Vibroengineering Procedia, 25, 151–156. https://doi.org/10.21595/vp.2019.20689
[19]Redtenbacher, C., Kiesling, C., Malin, M., Wimmer, A., Pastor, J. V., & Pinotti, M. (2018). Potential and Limitations of Dual Fuel Operation of High Speed Large Engines. Journal of Energy Resources Technology, Transactions of the ASME, 140(3), 1–10. https://doi.org/10.1115/1.4038464
[20]Rodrigue, J. P., Notteboom, T., & Pallis, A. A. (2011). The financialization of the port and terminal industry: Revisiting risk and embeddedness. Maritime Policy and Management, 38(2), 191–213. https://doi.org/10.1080/03088839.2011.556675
[21]Saputra, H., & Fathallah, A. Z. M. (2023). Formulation of Fuel Oil Consumption Estimation on the Fishing Vessels Through the Gill Net and Bubu Fishing Gears for Evaluating Fuel Subsidies in Bintan Regency - Indonesia. IOP Conference Series: Earth and Environmental Science, 1148(1), 012015. https://doi.org/10.1088/1755-1315/1148/1/012015
[22]Saral, G. A., & Sanrı, Ö. (2022). A Bibliometric Analysis of The Impact of COVID-19 on Maritime Logistics and Ports. The Journal of International Scientific Researches, 7(2), 131–148.
[23]Skrzeszewska, K. (2020). Employees of the Global Labor Market and the Polish Social Security System. European Research Studies Journal, XXIII(4), 363–376. https://doi.org/10.35808/ersj/1688
[24]Statista. (2025). Global inflation rate from 2000 to 2022, with forecasts until 2029. https://www.statista.com/statistics/256598/global-inflation-rate-compared-to-previous-year/
[25]Tradingeconomics. (2025). Commodities. https://tradingeconomics.com/commodities
[26]UNCTAD. (2020). Review of Maritime Transport 2020 Report. https://doi.org/10.18356/edeca49a-en
[27]UNCTAD. (2023). Review of Maritime Transport 2023 Report. https://doi.org/10.18356/9789213584569c006
[28]Viederytė, R. (2021). Economic Implications on the Basis of the Lithuanian Maritime Sector’s Clustering. Regional Formation and Development Studies, 2(13), 118–126. https://doi.org/10.15181/rfds.v13i2.830
[29]Wang, S., Zhuge, D., Zhen, L., & Lee, C. Y. (2021). Liner shipping service planning under sulfur emission regulations. Transportation Science, 55(2), 491–509. https://doi.org/10.1287/TRSC.2020.1010

Details

Primary Language

English

Subjects

Energy Economy On Ships

Journal Section

Research Article

Authors

Berk Yıldız ^*
0000-0002-3367-8753
Türkiye

Publication Date

September 9, 2025

Submission Date

January 31, 2025

Acceptance Date

May 29, 2025

Published in Issue

Year 2025 Volume: 1 Number: 1

IZ

https://izlik.org/JA27XS59CT

Cite

RIS / Bibtex

APA

Yıldız, B. (2025). ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES. International Maritime Studies and Research Journal, 1(1), 3-12. https://izlik.org/JA27XS59CT

AMA

1.Yıldız B. ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES. IMSAR. 2025;1(1):3-12. https://izlik.org/JA27XS59CT

Chicago

Yıldız, Berk. 2025. “ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES”. International Maritime Studies and Research Journal 1 (1): 3-12. https://izlik.org/JA27XS59CT.

EndNote

Yıldız B (September 1, 2025) ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES. International Maritime Studies and Research Journal 1 1 3–12.

IEEE

[1]B. Yıldız, “ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES”, IMSAR, vol. 1, no. 1, pp. 3–12, Sept. 2025, [Online]. Available: https://izlik.org/JA27XS59CT

ISNAD

Yıldız, Berk. “ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES”. International Maritime Studies and Research Journal 1/1 (September 1, 2025): 3-12. https://izlik.org/JA27XS59CT.

JAMA

1.Yıldız B. ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES. IMSAR. 2025;1:3–12.

MLA

Yıldız, Berk. “ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES”. International Maritime Studies and Research Journal, vol. 1, no. 1, Sept. 2025, pp. 3-12, https://izlik.org/JA27XS59CT.

Vancouver

1.Berk Yıldız. ANALYSIS OF FUEL COSTS ACCORDING TO MAIN ENGINE TYPES IN THE SHIPPING COMPANIES. IMSAR [Internet]. 2025 Sep. 1;1(1):3-12. Available from: https://izlik.org/JA27XS59CT