Abstract
The introduction of IMO2020, the outbreak of COVID-19, and the oil price drop in 2020 had a significant impact on operators’ operating profits. Therefore, a competitive analysis of bunkering spots that suggests the optimal location for bunkering is of interest. This paper uses a combination of primary and secondary research, both from operators’ and suppliers’ side, to identify the key performance factors (KPFs) affecting the decision-making process of a bunkering port selection process. Answers were then combined by using a fuzzy TOPSIS analytical approach to quantify the competitive position of each port in the Amsterdam-Rotterdam-Antwerp (ARA) region. Results suggest that availability of low sulfur bunkers, bunker quality, bunker price, reliability, punctuality, and safety of bunkering services, as well as usage and availability of barges are the key KPFs in order of importance. Sulfur cap has not changed the competitive environment in the region as the geographic advantage of the port of Rotterdam plays a crucial role in the comparison with the other ports, in contrast to expressed concerns in the industry.
Highlights
Bunkering port selection is a multidimensional problem with many conflicting parameters and a multi-criteria decision-making model is required
The need for such a model is reinforced with the introduction of IMO2020 sulfur cap, that coincided with the recent COVID-19 epidemic outbreak, that merely resulted
The methodology used to identify the effect of IMO2020 sulfur cap on the decision-making process of a bunkering port selection in the ARA region is a combination of primary and secondary research, along with a hybrid Fuzzy-Delphi-TOPSIS analysis method
Summary
Bunkering port selection is a multidimensional problem with many conflicting parameters and a multi-criteria decision-making model is required. Ourolidis in the unprecedent low levels of oil prices, that caused a potential displacement of the current bunkering port status quo as they affect both the demand and the supply side (quality and price) Following these foundations, this paper explores the factors affecting bunkering competitiveness at the ports of Northern Europe, at the ports of Amsterdam, Rotterdam, and Antwerp. The methodology used to identify the effect of IMO2020 sulfur cap on the decision-making process of a bunkering port selection in the ARA region is a combination of primary and secondary research, along with a hybrid Fuzzy-Delphi-TOPSIS analysis method. From a pure research perspective, this paper provides a first approach to understanding how the introduction of sulfur cap will affect the bunkering port selection process as factors like the availability of low sulfur bunker and the quantity of bunker are having an increased importance.
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