Abstract
Recently, the Member States of the International Maritime Organization (IMO) agreed on a 50% of 2008 levels cut of greenhouse gas (GHG) emissions by 2050. In order to reach this ambitious goal new and existing ships should be equipped with relevant greening technologies in the foreseeable future, hence a financial burden is justifiably expected. As conventional financing schemes and capacity seem insufficient to cover the needs of existing ships for retrofits, alternative financing options like shared savings models seem indispensable.Most research effort is focused on technical issues, technologies and their impact on the industry rather than on financial aspects. This article aims at merely filling this research gap by devising a pay-as-you-save financing model that fosters the installation of greening technologies onboard seagoing vessels. The findings of literature review on other models are considered when developing the pay-as-you-save model, resulting in a promising alternative way of financing for both ship operators and technology providers.
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