@article{Koričan_Sjeric_Nikolic_Fan_Vladimir_2025,
	author = {Koričan, Marija and Sjeric, Momir and Nikolic, Danilo and Fan, Ailong and Vladimir, Nikola},
	title = {Towards Green Ferry Corridors in the Adriatic Sea – Integrating Monte Carlo Simulations into Life Cycle Costing Scheme for Methanol},
	journal = {TransNav, the International Journal on Marine Navigation and Safety of Sea Transportation},
	volume = {19},
	number = {4},
	pages = {1295-1304},
	year = {2025},
	url = {./Article_Towards_Green_Ferry_Corridors_in_Koričan,76,1618.html},
	abstract = {The maritime transport sector is essential to global trade, handling a large share of international trade volume, but its reliance on fossil fuels raises significant environmental and economic concerns. The transition to greener options is slow, with 98.8% of the fleet still using fossil fuel, while the research into economic performance of this transition often overlooks fuel price volatility, a critical factor influenced by global events which have caused significant fuel price fluctuations. This paper introduces a model which incorporates fuel price volatility into lifecycle cost assessments (LCCA) on an example of a ferry connecting the Croatian and Italian shores of the Adriatic Sea. A comparison of diesel- and methanol-powered systems is provided, using Monte Carlo simulations to evaluate economic sustainability under volatile fuel prices. Diesel prices showed a consistently symmetrical and normal distribution across all simulations, indicating a stable price range, while methanol prices demonstrated more volatility. The LCCA results, which included the simulated fuel prices, showed that methanol-powered systems despite greater price volatility, show lower overall costs through different carbon taxation scenarios.},
	doi = {10.12716/1001.19.04.28},
	issn = {2083-6473},
	publisher = {Gdynia Maritime University, Faculty of Navigation},
	keywords = {}
}