Abstract
The International Maritime Organization (IMO) has concerned significant care to the reduction of ship emissions and improvement of energy efficiency through operational measures. One of those measures is ship speed reduction, which is classified as a short-term measure; in which the speed is reduced below its designed value. The present paper aims at evaluating the potential energy efficiency, and environmental and economic benefits because of applying speed reduction measures. The research methodology depends on establishing a simple mathematical model for technical, environmental, and economical aspects because of this concept. As a case study, container ships from different categories in a range of 2500-15,000 twenty-foot equivalent units (TEU) are investigated. The results show that a 2500 TEU ship can comply with the energy efficiency existing ship index (EEXI) by reducing the service speed to 19 knots. While for the bigger ships, the service speed must be 21.5 knots or below. Furthermore, the operational carbon intensity indicator (CII) has been evaluated for the case studies and found that the CII rating will keep its score between A and C levels if the service speed is equal to or below 19.5 knots. Moreover, the annual profit margin of the ship will be calculated based on applying speed reduction measures. Based on the economical results, the annual profit margin value, and its corresponding optimum speed change with the size of the vessel and the applicable status of carbon taxes.