Abstract
The maritime domain is a very broad domain encompassing ship design, construction, transportation, export–import, port management, energy, ocean, and waterways management. The assumption that the marine industry is less flexible for a transition from linear economy to circular economy (CE) is being challenged. A ship is a factory/city in motion, and therefore, CE principles may be applied to a ship. CE principles can be applied to ports, energy, and waterways management. Successful implementation of CE requires a comprehensive mapping of business models, projects, products, and services; identification of all stakeholders; and using biomimicry in manufacturing. CE can help in the regeneration and restoration of natural capital. The circular business models can help in increasing revenue, reducing costs, and saving the environment. CE can be extended to include reimagining, realigning, reworking, and reaching out to different players in the maritime domain. The marine industry faces the challenges of decarbonization and end-of-life vessel management.
Published Version
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